- Global Bitcoin investment instruments, including recently launched spot exchange-traded funds (ETFs) in the U.S., currently manage approximately one million bitcoins.
- In total, these instruments, as of March 4th, manage 1,008,436 BTC, representing 5.13% of the circulating supply of bitcoin, said Vetle Lunde, a senior analyst at K33.
- The amount exceeding one million BTC is primarily managed by recently launched spot Bitcoin ETFs in the U.S., totaling almost 700,000 BTC.
Bitcoin investment products worldwide manage more than 1 million BTC: Globally, Bitcoin investment products are in greater demand.
Bitcoin Investment Instruments Reach Massive Scale
Global Bitcoin investment instruments, including recently launched spot exchange-traded funds (ETFs) in the U.S., currently manage approximately one million bitcoins, with the value of this amount currently around $67 billion. This highlights the increasing interest in cryptocurrency within investment portfolios.
According to K33, a crypto research firm, more than 83% of these figures belong to the spot and futures Bitcoin ETFs in the U.S. Europe and Canada follow as the second and third-largest markets for Bitcoin investment instruments, respectively.
In total, these instruments, as of March 4th, manage 1,008,436 BTC, representing 5.13% of the circulating supply of bitcoin, said Vetle Lunde, a senior analyst at K33. Lunde stated, “Surpassing the threshold of one million bitcoins managed in investment instruments is a revolutionary milestone,” and added:
“These instruments have significantly disrupted the Bitcoin market structure. A few years ago, spot exchanges held 20% of the circulating supply; now, that figure has dropped to 11%, with ETFs/ETPs reducing the market share of wrapped bitcoin and an emerging derivatives market.”
Lunde added that surpassing one million BTC should indicate “ETFs have become a significant factor in Bitcoin price discovery.”
Spot Bitcoin ETFs
The amount exceeding one million BTC, almost 700,000 BTC, is primarily managed by recently launched spot Bitcoin ETFs in the U.S., according to Glassnode data. Since their launch in January of this year, spot Bitcoin ETFs in the U.S. have been in a race to surpass gold ETFs, which have been operational since 2004.
According to BitMEX Research data, the total assets under management of spot Bitcoin ETFs in the U.S. exceeded $52.5 billion as of March 4th, while gold ETFs have total assets under management of over $100 billion. In terms of flows, spot Bitcoin ETFs in the U.S. have seen a total of $7.9 billion in net inflows since their launch on January 11, according to BitMEX data.
On March 4th, spot Bitcoin ETFs in the U.S. saw a total net inflow of over $562 million, with Fidelity’s FBTC fund alone receiving a record entry of over $404 million. Meanwhile, Invesco, VanEck, and Wisdom Tree’s Bitcoin ETFs experienced outflows yesterday. Overall, as of March 4th, BlackRock and Fidelity dominate the spot Bitcoin ETF space with total assets under management exceeding $19 billion.
