Bitcoin ETFs Near 1 Million BTC Milestone as Retail Demand Surges

ETF analyst Nate Geraci has noted a major milestone for Bitcoin exchange-traded funds (ETFs), which are now nearing a collective 1 million BTC in holdings - around 5% of Bitcoin’s total supply.

Last week alone, Bitcoin (BTC) ETFs saw inflows totaling $988 million.

Spot bitcoin ETFs now about 23,000 away from holding 1,000,000 btc…

Or almost 5% of btc final total supply.

via @apollosats pic.twitter.com/QnrOPr6vPX

— Nate Geraci (@NateGeraci) October 28, 2024

BlackRock’s IBIT ETF dominated inflows, bringing in a remarkable $1.15 billion within one week.

In contrast, spot Ethereum (ETH) ETFs have lagged significantly, attracting only $78.89 million as investors continue to show limited interest.

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On October 25, IBIT alone secured $291 million in fresh capital, aligning with Bitcoin’s recent price surge to $68,600.

Data indicates that demand for Bitcoin ETFs is driven mainly by retail investors.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.