Publicly available data on cryptocurrency supply and ETF holdings

U.S. Bitcoin ETFs Surpass 500,000 BTC, BlackRock and Fidelity Invest $500M in Ether

Dec 12, 2024, 11:34 AM

U.S. spot Bitcoin ETFs have surpassed 500,000 BTC in cumulative net inflows, representing over 2.5% of Bitcoin's circulating supply, less than a year after their launch. This milestone highlights the growing investor confidence in the cryptocurrency market. Additionally, BlackRock and Fidelity, two major ETF issuers, have reportedly purchased over $500 million worth of Ether in the past two days, following the U.S. Securities and Exchange Commission's (SEC) approval of their respective Ethereum ETFs, BlackRock's ETHA and Fidelity's ETH ETF, in May. The investment in Ether by these financial giants underscores a broader trend of institutional interest in cryptocurrencies. Bitcoin ETFs have experienced a 10-day inflow streak, while Ethereum ETFs have seen inflows for 13 consecutive days, indicating sustained investor interest. BlackRock's bitcoin ETF, IBIT, has overtaken its gold ETF in size, and if recent ETF flows are annualized, they would absorb 5.4% of all BTC and 10.8% of all ETH in the next year.