Bitcoin ETPs now hold 7% of Bitcoin's maximum supply

5 hours ago

Bitcoin exchange-traded products (ETPs) present clasp much than 1.47 cardinal Bitcoin, amounting to 7% of the cryptocurrency’s maximum 21 cardinal coin supply.

US-based exchange-traded funds for Bitcoin (BTC) person scooped up the largest share, with their holdings exceeding 1.29 cardinal BTC held crossed each 11 funds arsenic of Sunday, Aug. 31, according to information shared by X relationship HODL15Capital connected Monday.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) held the astir retired of immoderate money astatine 746,810 BTC, portion the Fidelity Wise Origin Bitcoin Fund (FBTC) was the 2nd largest with its holdings conscionable nether 199,500 BTC.

Global Bitcoin ETPs person added much than 170,000 BTC, worthy astir $18.7 billion, betwixt Dec. 31, 2024, and Aug. 31, 2025.

Demand for Bitcoin ETPs seems to beryllium slowing down, arsenic planetary Bitcoin ETPs saw a nett outflow of $301 cardinal for the period of August, portion Ethereum funds attracted inflows of $3.95 cardinal during the aforesaid period, CoinShares reported connected Monday.

Bitcoin request slows

The request for Bitcoin is slowing down arsenic crypto whales person rotated billions of dollars toward Ether (ETH).

On Monday, a Bitcoin whale sold 4,000 BTC for 96,859 Ether implicit the span of 12 hours. The whale now holds $3.8 cardinal worthy of Ether.

Blockchain information level Arkham reported connected Wednesday that 9 whales person collectively booked a nett successful Bitcoin and person rotated into ETH, with their buys amounting to $456 million.

The downturn successful Bitcoin comes astatine a clip erstwhile September has historically been the weakest period for the asset, portion the terms of golden notches higher.

Another origin that is apt causing investors to prevention betting connected Bitcoin is that arsenic galore arsenic 92 crypto-related ETFs are pending with the US Securities and Exchange Commission, with immoderate of the most-anticipated funds tracking Solana (SOL) and XRP (XRP) owed for the regulators’ last determination successful October.

Pseudonymous Bitcoin expert PlanC said that Bitcoin’s path to $1 cardinal mightiness look hurdles.

“Instead, we conscionable support grinding dilatory upward to $1,000,000 implicit the adjacent 7 years successful a precise boring and underwhelming way,” PlanC said.

Research steadfast Delphi Digital said that Bitcoin mightiness rally and past clang aft the Federal Reserve cuts involvement rates, provided the plus increases successful terms beforehand; however, the steadfast said the terms of Bitcoin volition stay unchangeable if it doesn’t garner overmuch enactment starring up to the Fed complaint cut.

Magazine: XRP ‘cycle target’ is $20, Strategy Bitcoin suit dismissed: Hodler’s Digest, Aug. 24 – 30

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