Bitcoin ETFs Hold 6% of Total Market Cap
US spot Bitcoin ETFs have attracted over $102.5 billion in assets since their launch in January 2024, accounting for approximately 6.29% of Bitcoin's entire supply.
This equates to around 1.27 to 1.32 million BTC sitting in cold storage, effectively removed from active circulation. The largest ETF by assets under management is BlackRock's iShares Bitcoin Trust (IBIT), holding an estimated 693,000 to 786,000 BTC and a commanding share of the total ETF market.
IBIT has pulled in more than $60 billion in cumulative inflows since its launch. In contrast, Fidelity and Grayscale have struggled with net outflows during various periods. The cumulative net inflows across all US spot Bitcoin ETFs sit at approximately $55 billion, with BlackRock accounting for a disproportionate chunk of the total capital.
To reach 10% ownership threshold would require an additional $60.5 billion in ETF assets, assuming Bitcoin's price stays flat. However, rising prices would raise the cost of each incremental BTC, making the actual capital required to hit 10% substantially higher.