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More than 1 million BTC is currently held by a Bitcoin exchange-traded fund (ETF) designed to track the asset’s price performance.
According to the chart, as of May 24, more than 30 Bitcoin ETFs own a total of 1,002,343 BTC. Posted on Twitter The announcement was made Monday by MicroStrategy Chairman Michael Saylor. Data was verified by: decryption Based on public reports and corroborated by Coinglass’ Bitcoin ETF dashboard.
The holdings account for approximately 5% of the global BTC circulating supply, with a current total value of $70.5 billion. It’s also nearly five times the size of Saylor’s own Bitcoin stash, which currently stands at 214,400 BTC ($15 billion).
Most of that Bitcoin is held within the U.S. Bitcoin Spot ETF, which launched in January, shattering the performance records of all previous ETF launches. More than half is split equally between the world’s largest funds, Grayscale Bitcoin Trust (289,040 BTC) and BlackRock’s iShares Bitcoin Trust (287,168 BTC).
The next largest funds include Fidelity Wise Origin Bitcoin Trust (161,538 BTC), the second largest fund in the US, Ark 21Shares Bitcoin ETF (48,444 BTC), and Bitwise Bitcoin ETF (36,185 BTC). The largest Bitcoin ETF internationally is the world’s first Canadian Purpose Bitcoin ETF, which holds 27,110 BTC.
Bitcoin ETFs allow investors to gain Bitcoin exposure through a familiar ETF wrapper by including assets among other securities within a retirement or other tax-advantaged account. It is also a means for large institutions to gain exposure where purchasing coins directly from cryptocurrency exchanges may be prohibited.
First-quarter reported figures show that more than 20% of exposure to U.S. spot Bitcoin ETFs is held by large investors and institutions with total assets exceeding $100 million. This includes large hedge funds, banks, and even the Wisconsin State Pension Fund.
“I think over the long term, this could be between 1% and 5% of the U.S. ETF market, which is a $7 trillion market.” said Bitwise CIO Matt Hougan was interviewed in an interview earlier this month. “I think this could be a hundreds of billions of dollars market in the U.S. alone.”
Edited by Ryan Ozawa.
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