In a recent X (Twitter) post, MicroStrategy head and Bitcoin enthusiast Michael Saylor noted an important Bitcoin ETF milestone. He noted that there were more than a million (or one Nakamoto) bitcoins in an exchange-traded fund (ETF) for spot Bitcoin.
Key Highlights
MicroStrategy CEO Michael Saylor highlighted the significant increase in Bitcoin ETF influx.
He stated that 32 global Bitcoin ETPs had built a massive reserve of more than one million BTC.
The US Spot Bitcoin ETFs, which debuted in January of this year, emerged as the largest contributor to this massive reserve.
MicroStrategy, CEO on Bitcoin ETF’s increasing inflows
Shortly after a Bitcoin ETF was approved by the US Securities and Exchange Commission (SEC) in January, there has been a significant increase in growth.
According to data shared by Michael Saylor, Bitcoin spot ETFs in the US hold most Bitcoin. The research shows that the Grayscale Bitcoin Trust holds approximately 289,040 BTC. BlackRock’s iShares Bitcoin Trust holds approximately 287,168 Bitcoin’s.
At the time of writing, the combined ownership of 1,002,343 BTC is worth $67.9 billion, or 5% of the Bitcoin supply in circulation.
Aside from the United States, the Canadian Purpose Bitcoin ETF contains 27,110 BTC.
Michael Saylor and MicroStrategy, the world’s largest corporate Bitcoin holder, now have 214,400 BTC worth $14.58 billion on their balance sheet, according to current data. This number is broadly supported by, which monitors the performance of MicroStrategy’s Bitcoin investment. Bitcoin ETFs are gaining traction as investor confidence grows.
Effect on Bitcoin Price
Substantial institutional interest could be a bullish sign for Bitcoin’s future price trajectory. With one million BTC locked in these ETFs, a supply bottleneck could occur when BTC exchange reserves drop to new lows. However, the price of Bitcoin is currently in a downward trend.
According to crypto researcher Michael van de Poppe, Bitcoin is approaching a consolidation point around $60,748–$66,000. He further added, He added, “We lost $66K, and I believe we will test the lower range and buy again there. This is the stage at which you should have your purchases ready.
