Currently, the total amount of BTC held by ten BTC spot ETFs has exceeded 800,000 coins, accounting for 3.8% of the total BTC supply
On-chain analyst Yu Jin stated that the total amount of BTC held by ten BTC spot ETFs has exceeded 800,000 coins, accounting for 3.8% of the total BTC supply. Meanwhile, Grayscale (GBTC) now holds less than 50% of the volume in these ten BTC spot ETFs, with its BTC holdings dropping below 400,000 coins. The influence of Grayscale (GBTC) on the market is diminishing. Since the launch of BTC spot ETFs just two months ago, BlackRock (IBIT) and Fidelity (FBTC) have already accumulated a total of 320,000 coins ($23.1 billion), soon to surpass Grayscale (GBTC). On March 11th, net inflows into these ten BTC spot ETFs reached $505.51 million USD; corresponding to approximately 7,018BTC flowing into their custody addresses after the US stock market opens on March 12th:
Outflows: Grayscale (GBTC) and JPMorgan Chase's(BTCO) outflows totaled around 6,995BTC ($503.78 million USD outflow on March 11th);
Inflows: The remaining eight ETFs received inflows totaling about 14,013BTC ($1.00929 billion USD inflow on March 11th), led by BlackRock(IBIT), which saw an inflow of $7,816BTC ($5629 million USD), exceeding the combined outflows from Grayscale and JPMorgan Chase.
The current total number of Bitcoins held by these ten BTC spot ETFs is:802385BTC($57.78 billion USD).
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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