Spot Bitcoin ETFs Issuer Holdings Surge Past 900,000 BTC Amid Massive July Accumulation

Spot Bitcoin ETFs have achieved yet another milestone, recording a total of 900,000 BTC since its launch. This historic milestone occurs amidst the substantial wave of BTC accumulation in July.

Spot Bitcoin ETFs Holdings Surpass 900,000 BTC

Spot Bitcoin ETFs have accomplished an unprecedented feat, as the United States BTC ETF holdings have now surpassed a staggering 900,000 BTC valued at more than $60 billion. Nate Geraci, President of the ETF Store revealed in a recent X (formerly Twitter) post that the US Spot Bitcoin ETFs recent 900,000 BTC milestone represents about 4.3% of BTC’S total supply of 21 million BTC in the market. Additionally, this massive BTC holding accounts for 82% of the nearly 1.1 million BTC held by global BTC ETFs. 

According to market data from Farside Investors, a London-based investment management company, Spot Bitcoin ETFs have witnessed a major increase in inflows, reflecting a surge in demand for the digital asset.  In less than two weeks, Spot Bitcoin ETFs witnessed approximately $2.38 billion in net inflows. This substantial increase has effectively propelled its total net inflows to $17 billion since its launch on January 11, 2024. 

Farside Investors data also revealed that Spot Bitcoin ETFs have seen 11 days of consecutive inflows. The highest inflow recorded within this time frame was about $383.6 million on July 19. At the time, BlackRock’s iShares Bitcoin Trust (IBIT)  led with an impressive inflow of $116.2 million. Over the past two weeks, BlackRock has also attracted the highest amount of inflows, followed by Fidelity Wise Origin Bitcoin Fund (FBTC). 

As a key contributor to the 900,000 BTC milestone achieved by the US Spot Bitcoin ETFs, the Assets Under Management (AuM) of BlackRock’s IBIT now manages approximately 325,449 BTC, valued at about $21 billion. This significant BTC holding highlights BlackRock’s rapid success, with its Spot BTC ETF achieving a multi-billion dollar status in less than six months. 

BTC Accumulation Grows In July

Amidst the 900,000 surge in the US Spot Bitcoin ETFs holdings, BTC has seen a significant spike in accumulation. This growth is likely driven by the recent shift in BTC’S bearish trend, possibly sparking an increase in investors’ demand for the cryptocurrency.  According to reports from a crypto analyst identified as ‘Crypto Capex,’ on X, BTC accumulation into Spot Bitcoin ETFs has intensified significantly in July, while the availability of BTC on exchanges continues to dwindle. 

Glassnode has also disclosed a notable increase in the BTC accumulation trend, which surged from 0.05 on June 1 to 0.44 by July 10. Based on the data, the number of BTC whales holding at least 1,000 BTC rose from 1,640 on July 1 to 1,643 on July 10. This move highlights the growing demand for BTC in July.

Featured image created with Dall.E, chart from Tradingview.com