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Less than a year after their launch, spot Bitcoin ETFs have recorded unprecedented growth, boosting investors’ interest and demand for the largest cryptocurrency.by Binance Research, the research arm of the global cryptocurrency exchange, revealed that bitcoin ETFs have accumulated over 938,000 BTC, worth $63.3 billion. This figure represents 4.5% of the total circulating supply of bitcoin. Adding the amount held in other similar funds drives the figure to 1.1 million BTC, approximately 5.
Additionally, the funds have recorded positive flows in 24 out of 40 weeks, with the value of inflows surpassing outflows by a wide margin. Over the past 10 months, Bitcoin ETFs have received cumulative flows exceeding $21 billion. BlackRock’s IBIT, Grayscale’s GBTC, and Fidelity’s FBTC account for approximately 84% of the total ETF market. Inflows into IBIT constitute aThe report pointed out that retail investors account for 80% of bitcoin ETF demand. While institutional demand is lower, it has shown consistent growth in the past few months, up 7.9% since Q1.
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