BlackRock's Dominance: Bitcoin ETFs Hold 6% of Total Supply

The launch of US spot Bitcoin ETFs in January 2024 has had a significant impact on the market, with these funds now holding around $102.5 billion in assets and approximately 6.29% of Bitcoin's total supply.

This translates to around 1.27 to 1.32 million BTC being held in cold storage, effectively removed from active circulation since their launch.

BlackRock's iShares Bitcoin Trust (IBIT) is a dominant player in this market, holding an estimated 693,000 to 786,000 BTC and exceeding 60% of all Bitcoin ETF assets.

The cumulative net inflows across all US spot Bitcoin ETFs sit at approximately $55 billion, with BlackRock alone accounting for a significant chunk of the total capital.