Bitcoin spot ETFs have hit a significant milestone, holding over 1 million BTC. As of May 24, more than 30 Bitcoin ETFs collectively own 1,002,343 BTC, worth about $70.5 billion. This represents approximately 5% of the global circulating BTC supply.
The surge in Bitcoin spot ETFs, particularly in the U.S., has been remarkable. These funds launched in January and quickly shattered previous ETF launch records.
They offer investors a way to gain Bitcoin exposure through traditional investment vehicles, attracting large institutions and retirement accounts.
The largest players in this space are the Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust, each holding around 289,000 BTC. Other notable funds include Fidelity’s Wise Origin Bitcoin Trust with 161,538 BTC and the Ark 21Shares Bitcoin ETF holding 48,444 BTC.
First-quarter reports show that over 20% of U.S. spot Bitcoin ETF exposure is held by large investors and institutions, including hedge funds and state pension funds like Wisconsin’s.
Bitwise CIO Matt Hougan sees a bright future for Bitcoin ETFs. According to him, ETFs could capture between one and five percent of the U.S. ETF market. And that would be a multi-hundred billion dollar market.