[NEW] Bitcoin held by existing Bitcoin ETFs worldwide is equivalent to 3.8% of the maximum supply, according to CoinGecko survey

It has been found that existing Bitcoin ETFs deployed around the world hold approximately 793,034 BTC, or 3.8% of Bitcoin's maximum supply of 21 million BTC. Data analysis company Coingecko conducted a survey.

This includes Grayscale Bitcoin Trust (GBTC) offered by Grayscale, which is awaiting SEC approval to convert to a physical ETF. Excluding GBTC, existing ETFs hold 0.8% of Bitcoin's maximum supply.

According to Coingecko, the world's largest Bitcoin ETF is XBT provider Bitcoin Tracker One (COINXBT), with total assets of $7.11 billion (approximately 1.3 trillion yen). Founded in Sweden in 2015, it is also ranked first overall as a cryptocurrency ETF.

The second is ProShares Bitcoin Strategy ETF (BITO). BITO is a Bitcoin futures ETF established in the United States, with total assets of $1.64 billion (approximately 237.5 billion yen). In third place was Purpose Bitcoin ETF (BTCC). Established in Canada, BTCC is the largest Bitcoin spot ETF with total assets of $1.55 billion (approximately 224 billion yen).

Although 14 Bitcoin spot ETFs are in the top 20 of the ranking, they only account for 38.5% of the total assets.

In contrast, the six Bitcoin futures ETFs account for 61.6% of the total assets. This is because traditional financial institutions are investing in Bitcoin futures rather than Bitcoin itself, they explain.

Currently, only a small portion of Bitcoin is managed by ETF issuing companies. However, the birth of a Bitcoin spot ETF, which is expected to be approved in early 2024, is expected to overwhelmingly increase investor demand.

Increasing corporate bitcoin holdings

As mentioned above, Grayscale holds the most bitcoin holdings by companies, with 622,657 BTC. This is equivalent to 3.0% of the maximum supply of bitcoin.

MicroStrategy, a business intelligence and software development company, holds approximately 174,530 BTC, coming in second, followed by Block.one with approximately 164,000 BTC.

In the future, if the Bitcoin spot ETF application by BlackRock, the world's largest asset management company, is approved, the company is expected to hold the most bitcoin.

Reference:Survey
Image: Shutterstock

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