US Spot Bitcoin ETFs Become Second-Largest Holder Of BTC Behind Satoshi
Spot Bitcoin ETFs have gained significant traction in the U.S. since their approval in January 2024, acquiring 924,768 BTC, which is over 4% of the total Bitcoin supply. BlackRock's IBIT has emerged as a leading buyer, surpassing Grayscale's GBTC, which holds over 350,000 BTC but has experienced substantial outflows. Grayscale's holdings have decreased to less than 250,000 BTC after losing over $20 billion to Spot Bitcoin ETFs due to lower fees. Other ETFs like Fidelity FBTC and Ark Invest/21Shares ARKB have collectively reached nearly 50,000 BTC. The largest Bitcoin wallet remains the dormant Satoshi Nakamoto wallet with 1.1 million BTC. The Binance old wallet leads active holdings with 248,598 BTC, followed by the Bitfinex Hack Recovery wallet and the Mt Gox Hack wallet.
