Bitcoin ETFs now control over 1.47 million BTC, but recent investor interest is starting to fade.
- Bitcoin ETFs hold 7% of all Bitcoin in existence
- BlackRock’s ETF leads with over 746,000 BTC
- Investor focus is shifting from Bitcoin to Ethereum
Bitcoin ETFs Reach Huge Milestone
Exchange-traded products (ETPs) tied to Bitcoin now hold more than 1.47 million BTC. That’s about 7% of Bitcoin’s 21 million supply cap. Most of these holdings come from U.S.-based Bitcoin ETFs, which together manage over 1.29 million BTC.
Major Players in the Market
BlackRock’s iShares Bitcoin Trust ETF leads with 746,810 BTC. It’s the single largest holder among all Bitcoin ETPs. Fidelity’s Wise Origin Bitcoin Fund comes next, holding just under 199,500 BTC. These two funds alone control nearly 65% of all ETF-held Bitcoin.
Declining Interest in August
Even though ETPs added more than 170,000 BTC between December 31 and early September, August saw a drop in activity. According to CoinShares, Bitcoin ETPs had a net outflow of $301 million that month. At the same time, Ethereum-related funds saw $3.95 billion in inflows.
Whales Are Moving to Ethereum
Large Bitcoin holders, also known as whales, are shifting their investments. One whale sold 4,000 BTC for 96,859 Ether in just 12 hours. This investor now holds $3.8 billion in Ethereum. Blockchain firm Arkham also found that nine whales recently moved a total of $456 million from Bitcoin to ETH.
What’s Causing the Shift?
September tends to be a slow month for Bitcoin. At the same time, gold prices are rising. Another reason might be uncertainty around pending new ETFs. The U.S. SEC is reviewing 92 crypto-related funds, many focused on platforms like Solana and XRP, with decisions expected in October.
Future Outlook for Bitcoin
Some experts believe that Bitcoin’s price won’t skyrocket quickly. Analyst PlanC said the path to $1 million might be slow and steady over several years. Research firm Delphi Digital also warns that a price rally could be followed by a sharp drop after the U.S. Federal Reserve cuts interest rates.
Source: cointelegraph.com
