Summary
TLDR: Wall Street’s biggest players are buying up large amounts of bitcoin through ETFs, with almost 4% of all bitcoin now held in these funds. Grayscale’s Bitcoin Trust is leading the pack but losing market share to other ETFs. MicroStrategy has acquired nearly 1% of the bitcoin supply and is up 95% on its investments. The US government holds a significant amount of bitcoin seized in criminal cases. Overall, ETF shareholders are seeing significant gains from bitcoin’s price rally.
Key Points
1. Bitcoin ETFs in the US are now sitting on almost 4% of all bitcoin in existence.
2. Spot funds overall held 776,464 BTC ($47.7 billion) on Friday morning, per BitMEX Research.
3. MicroStrategy, the largest corporate treasury in the world, has so far acquired 0.98% of the bitcoin supply (193,000 BTC worth $11.88 billion).