Eleven-months-old US spot Bitcoin ETF products keep raising the bar with their constant milestones. Collectively, all 12 US spot Bitcoin ETFs have surpassed 500,000 BTC in net inflows. According to K33 Head of Research Vetle Lunde, these crypto ETFs have Cabsorbed more than 2.5% of the coin’s 19.8 million BTC circulating supply since their January launch. $223.1 Mln in Inflows Propel Spot Bitcoin ETF IBIT, FBTC, BTCW, BITB, BRR, and others hit this milestone after successfully bagging up to $223.1 million in net inflows on Wednesday. Fidelity’s FBTC led the positive momentum with $121.9 million net inflows. Based on this sentiment, the offerings have recorded a 10-day inflow streak totaling $4.3 billion. Meanwhile, the cumulative net inflows since their January launch is $34.7 million in dollar terms. BlackRock Holds Over 500,000 BTC Besides Fidelity’s FBTC, BlackRock’s IBIT has become one of the fastest-growing spot Bitcoin ETFs. A few days ago, IBIT exceeded 500,000 BTC in net inflows, valued at $46.9 billion. This equals 2.38% of the flagship cryptocurrency’s total 21 million supply. Out of this holding, IBIT’s institutional ownership is at 24%. Also, IBIT achieved more than $50 billion in Assets Under Management (AUM) in just 228 days. The milestone is linked to the shift and growing acceptance of crypto offerings amongst institutional investors. It is also connected to the landmark year that Bitcoin has seen. The coin went from trading below $40,000 in January to $103,000 this December. Its current market price is $$100,451.23 . US Spot Bitcoin ETFs Surpass Satoshi in Bitcoin Holdings In the same vein, US spot Bitcoin ETFs have overtaken the lead holder of Bitcoin, Satoshi Nakamoto. As of December 6, senior Bloomberg ETF analyst Eric Balchunas noted that Bitcoin ETFs hold as much as 1.104 million BTC. Satoshi’s Bitcoin stash was said to be at only 1.1 million coins. At this rate, the analyst is positive that BlackRock’s IBIT will become the sole biggest holder of Bitcoin come next year. According to The Block’s data dashboard, BlackRock has about 520,000 BTC, followed by Fidelity’s FBTC, which has over 247,000 BTC. Grayscale’s GBTC went from holding around 619,000 BTC to now having 210,000 BTC. The post Bitcoin ETFs Surpass 500,000 BTC in Cumulative Net Inflows appeared first on TheCoinrise.com .
