Bitcoin ETFs Now Hold 7% of Total BTC Supply
Bitcoin ETFs Accumulate Significant Holdings
Bitcoin exchange-traded products (ETPs) have amassed a substantial holding of over 1.47 million Bitcoin, representing 7% of the cryptocurrency's total supply capped at 21 million coins. This milestone highlights the increasing institutional adoption of Bitcoin through regulated investment vehicles.
US ETFs Lead the Way
United States-based Bitcoin ETFs account for the lion's share of these holdings, with over 1.29 million BTC distributed across 11 funds as of August 31, 2025, according to data from X account HODL15Capital.
- BlackRock’s iShares Bitcoin Trust ETF (IBIT) holds the largest individual share at 746,810 BTC.
- Fidelity Wise Origin Bitcoin Fund (FBTC) follows with holdings just under 199,500 BTC.
Between December 31, 2024, and August 31, 2025, global Bitcoin ETPs collectively added over 170,000 BTC, valued at approximately $18.7 billion.
Shifting Market Dynamics
However, the pace of demand for Bitcoin ETPs appears to be moderating. August saw a net outflow of $301 million from global Bitcoin ETPs, while Ethereum funds attracted significant inflows of $3.95 billion, as reported by CoinShares.
Ethereum Gains Favor
This shift coincides with notable activity from crypto whales, who have been reallocating capital from Bitcoin to Ether (ETH).
- One whale reportedly sold 4,000 BTC for 96,859 ETH within a 12-hour period and holds $3.8 billion worth of Ether.
- Arkham Intelligence reported that nine whales collectively booked profits in Bitcoin and moved into ETH, totaling purchases of $456 million.
The shift away from Bitcoin comes during September, historically a weaker month for the asset. Moreover, with numerous crypto-related ETFs pending SEC approval, including those tracking Solana (SOL) and XRP (XRP), investors may be holding back on further Bitcoin investments. The final decision on some of these anticipated funds is expected in October.
Analyst Perspectives
Bitcoin analyst PlanC suggests that Bitcoin’s ascent to $1 million may encounter obstacles, predicting a gradual and potentially “boring” climb over the next seven years.
Research firm Delphi Digital speculates that Bitcoin could experience a rally followed by a crash after the Federal Reserve cuts interest rates, contingent on prior price appreciation. If Bitcoin's price remains relatively stable leading up to the rate cut, Delphi Digital anticipates continued stability.