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Bitcoin ETF-Products Currently Hold Over One Million BTC Showing Enormous Growth


Bitcoin exchange-traded products have changed the outlook of the market injecting fresh liquidity and boosting its value.

Presently, Bitcoin ETFs have crossed the 1 million Bitcoin holdings benchmark globally.

Since the launch of the spot ETF in January the ETFs have accumulated 855,619 BTC. This accumulation is at an average of 6,200 per day.

Also, data from HODL15Capital, reveals that the estimated amount of Bitcoin held is 1,0002,343 BTC worth approximately $68 billion.

Remarkably, this is 5.08% of the circulating supply of BTC which is approximately 19.70 million.

Spot ETFs Continue to Shine

Source: X

According to the report by HODL15Capital, Grayscale’s GBTC is still the largest fund holding the asset.

Currently, GBTC holds 289,040 BTC coins worth nearly $19.9 billion. However, BlackRock’s iShares Bitcoin Trust (IBIT) is catching up quickly.

IBIT holds 287,168 BTC worth nearly $19.8 billion and will likely surpass GBTC this week if inflows remain steady.

Notably, GBTC continues to record outflows of approximately 330,960 BTC representing 53% of its total holdings.

Despite the growth of the Spot ETF market, HODL15Capital queried if the ETFs were limiting the growth of BTC held in self-custody.

A chart displayed on their X page showed the amount of BTC held by various addresses. Notably, there was no growth recorded in self-custody from 2023 to 2024.

However, the chart also shows a similar pattern of stunted growth in self-custody addresses between 2017 and 2018.

Analysts React to Bitcoin Self-Custody Wallets Slow Growths

Meanwhile, the CEO of 1RTPartners, Dab Tapiero, stated that the current slow growth in self-custody wallets could be huge for Bitcoin.

According to Tapiero adoption is always needed in an emerging world. Also, failed monetary policies will increase Bitcoin use cases.

Additionally, he referenced El Salvador stating that they were rewarded for excellent judgment on Bitcoin’s potential.

So, he believes that BTC brings prosperity and will attract other investors to follow the El Salvadorian trend.

Also, Bitcoin supporter, Bitcoin Munger stated that long-term holders are not bothered but focused and flourishing.

Overall, BTC is enjoying an inflow of institutional investment through its ETF products.

Notably, it has risen to a new all-time high value in 2024 and will likely rally again in the coming months.

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