Bitrabo Editorial
Spot Bitcoin ETFs have recorded an impressive milestone, accumulating over 900,000 BTC since inception. This achievement coincides with a significant wave of BTC accumulation in July.
Spot Bitcoin ETFs Surpass 900,000 BTC Holdings
United States BTC ETF holdings have exceeded 900,000 BTC, valued at over $60 billion. Nate Geraci, President of the ETF Store, shared on X that this milestone represents 4.3% of the total BTC supply in the market. Additionally, this holding accounts for 82% of the total BTC held by global BTC ETFs.
Market data from Farside Investors indicates a surge in demand for Spot Bitcoin ETFs, with an inflow of approximately $2.38 billion within two weeks. The total net inflows since the launch in January 2024 have reached $17 billion.
Farside Investors data also reveals 11 consecutive days of inflows, with the highest daily inflow of $383.6 million on July 19. BlackRock’s iShares Bitcoin Trust led in inflows, followed by Fidelity Wise Origin Bitcoin Fund in the past two weeks.
BlackRock’s iShares Bitcoin Trust manages around 325,449 BTC, valued at $21 billion, contributing significantly to the 900,000 BTC milestone achieved by US Spot Bitcoin ETFs.
BTC Accumulation Growth in July
Amidst the surge in US Spot Bitcoin ETFs holdings, BTC accumulation has seen a notable increase in July. This growth is likely influenced by a potential reversal in BTC’s bearish trend, prompting heightened demand from investors.
Reports from ‘Crypto Capex’ on X indicate intensified BTC accumulation in Spot Bitcoin ETFs in July, while the availability of BTC on exchanges decreases.
Glassnode has reported a significant rise in the BTC accumulation trend, increasing from 0.05 on June 1 to 0.44 by July 10. The number of BTC whales holding at least 1,000 BTC also grew, reflecting a rising demand for BTC in July.