ETFs
32 Bitcoin Spot ETFs collectively hold 1 million BTC: Michael Saylor
Last updated: May 28, 2024 03:39 EDT | 1 minute reading
MicroStrategy head and Bitcoin advocate Michael Saylor highlighted a major milestone for the Bitcoin ETF in his recent X (Twitter) article. He noted that over 1 million (or 1 Nakamoto) BTC is held in spot Bitcoin exchange-traded funds (ETFs).
“32 Bitcoin spot ETFs now hold 1 Nakamoto of BTC,” his post read.
32 #Bitcoin Spot ETFs now hold approximately 1 Nakamoto of $BTC pic.twitter.com/OpHridlymc
– Michael Saylor⚡️ (@saylor) May 27, 2024
This significant growth comes just months after the U.S. Securities and Exchange Commission (SEC) Bitcoin ETFs approved in January.
According to a chart published by Michael Saylor, most Bitcoin is held by Bitcoin spot ETFs in the United States. Additionally, the data shows that two of the world’s largest funds – Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust were split evenly with 289,040 BTC and 287,168 BTC, respectively.
The 1,002,343 BTC held collectively represent 5% of the circulating supply of Bitcoin and are worth a total of $67.9 billion at press time.
Fidelity WiseOrigin Bitcoin Trust comes next, holding 161,538 BTC, followed by the Ark 21Shares Bitcoin ETF with a reserve of 48,444 BTC.
Besides the United States, the Canadian Purpose Bitcoin ETF holds 27,110 BTC.
Michael Saylor and MicroStrategy, the world’s largest Bitcoin holding company, now hold 214,400 BTC worth $14.58 billion on its balance sheet, according to recent data. This figure is roughly corroborated by saylortracker.comwhich tracks MicroStrategy’s Bitcoin investment performance.
Bitcoin ETFs Gain Ground: Investor Confidence Increases
The Bitcoin spot ETF market continues its resurgence, even after the recent SEC approval of Ethereum ETFs. The milestone of reaching “1 Nakamoto” underpins the growing influence of Bitcoin ETFs and increasing institutional adoption.
Michael Saylor also recently expressed his support for the approval of the Ethereum ETF, which he said is “good for Bitcoin.” In an interview, Saylor said, “There are a lot of things that will be looked at in a more open light, and Bitcoin will be the leader of the crypto asset class.”