Tanahub.com — Spot Bitcoin exchange-traded funds (ETFs) now command 5.3% of the global BTC supply. Analytics firm CryptoQuant reports that ETF holdings nearly doubled throughout 2024.
According to CryptoQuant, BTC holdings managed by ETFs increased from 629,900 in January to 1.05 million BTC in October. This means that over a 10-month period, ETFs added 425,000 BTC to their portfolios.
The growth in Bitcoin ETF holdings has had a direct impact on price movements. Increases in ETF Bitcoin collections in March and November were accompanied by upward trends in Bitcoin prices.
In March, U.S.-based spot Bitcoin ETFs recorded a net inflow of $4 billion. ETF trading volume also surged to $111 billion, nearly tripling February’s figure. During the same month, Bitcoin reached its previous all-time high (ATH) above $73,000.
November also saw substantial capital inflows into spot Bitcoin ETFs. Positive sentiment following Donald Trump’s U.S. election victory spurred new liquidity flows. Bitcoin prices hit a new record above $92,000.
On the player side, BlackRock, through its iShares Bitcoin Trust (IBIT), leads the pack with inflows exceeding $3 billion since early November. IBIT’s total assets now surpass $40 billion. Last week alone, IBIT recorded an additional $2 billion in total inflows.
Despite ETFs gaining dominance, the performance of spot Bitcoin ETFs remains volatile. Over the past week, total spot Bitcoin ETF inflows reached $2.4 billion, with outflows amounting to $770 million. Overall, weekly ETF inflows still posted a surplus of around $1.6 billion.