Bitcoin Spot ETFs Reach Major Milestone: Over 1 Million BTC Held, Says Michael Saylor

MicroStrategy CEO and prominent Bitcoin advocate Michael Saylor has announced a major milestone for Bitcoin exchange-traded funds (ETFs). In a recent post on X (formerly Twitter), Saylor highlighted that over 1 million BTC, referred to as “1 Nakamoto,” are now held by Bitcoin spot ETFs.

“32 Bitcoin spot ETFs now hold 1 Nakamoto of BTC,” Saylor’s post read.

Significant Growth in Bitcoin ETFs

This milestone follows just months after the U.S. Securities and Exchange Commission (SEC) approved Bitcoin ETFs in January. According to a chart shared by Saylor, the majority of these Bitcoins are held by U.S.-based Bitcoin spot ETFs. Notably, the two largest funds, Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust, hold 289,040 BTC and 287,168 BTC respectively.

In total, the 1,002,343 BTC held by these ETFs represent 5% of the circulating Bitcoin supply, valued at $67.9 billion at the time of writing. Following the leading funds, Fidelity WiseOrigin Bitcoin Trust holds 161,538 BTC, and the Ark 21Shares Bitcoin ETF holds 48,444 BTC. The Canadian Purpose Bitcoin ETF holds 27,110 BTC, marking significant international involvement.

MicroStrategy’s Holdings and Market Impact

MicroStrategy, under Michael Saylor’s leadership, continues to be the world’s largest corporate holder of Bitcoin, with 214,400 BTC valued at approximately $14.58 billion. This holding aligns with data from saylortracker.com, which monitors MicroStrategy’s Bitcoin investment performance.

Investor Confidence in Bitcoin ETFs

The Bitcoin spot ETF market has seen a resurgence, bolstered by the SEC’s recent approval of Ethereum ETFs. The milestone of 1 million BTC held in ETFs underscores the growing influence and institutional adoption of Bitcoin. Saylor has expressed support for Ethereum ETF approval, asserting that it benefits the broader cryptocurrency market, with Bitcoin maintaining its leadership.

In a recent interview, Saylor remarked, “There’s a lot of things that will be considered in a more open light, and Bitcoin will be the leader of the crypto asset class.”