Ramazan Eles 
The recent launch of nine spot Bitcoin exchange-traded funds (ETFs) is making waves in the cryptocurrency world.
In less than two months, these newcomers have amassed a collective holding of over 300,000 Bitcoins (BTC), equivalent to roughly $17 billion, excluding Grayscale’s GBTC trust.
This figure, reported by K33 Research, represents a significant chunk of the total Bitcoin supply, accounting for nearly 1.5%. To put this in perspective, it surpasses the holdings of major players like software giant MicroStrategy (193,000 BTC), stablecoin issuer Tether (66,465 BTC), and even the combined holdings of all publicly traded Bitcoin miners.
BlackRock’s IBIT ETF is the current frontrunner, boasting over 128,000 BTC ($7 billion) in assets under management. Fidelity’s FBTC follows closely behind with more than 94,000 BTC ($5 billion), according to data from BitMEX Research.
The surge in demand for these new ETFs is further evidenced by the impressive inflow figures. As of yesterday, the total net inflow across all US spot Bitcoin ETFs has surpassed $6 billion, with nearly $520 million entering the market on a single day – the highest in two weeks. Fidelity’s FBTC and Ark Invest 21Shares’ ARKB led the charge on Monday, attracting $243.3 million and $130.6 million in inflows, respectively.
Interestingly, Grayscale’s GBTC trust, known for its higher fees, experienced its lowest outflow since launch. The product saw only $22.4 million leave the fund yesterday, a significant drop compared to previous trading days and a fraction of the $7.5 billion in total outflows it has faced so far.
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