Bitcoin ETFs Now Hold 6% of the Total Bitcoin Supply, See $109B in Assets Under Management

It’s been one year since the SEC approved the first spot bitcoin ETFs, which many saw as a landmark decision for the crypto industry.

One year ago, the Securities and Exchange Commission (SEC) made history by approving the first spot bitcoin exchange-traded funds (ETFs), a decision that has had a profound impact on the crypto industry.

As of January 10, these ETFs boast an impressive $109 billion in assets under management (AUM), collectively holding approximately 6% of the total bitcoin supply. Even before reaching this one-year milestone, bitcoin ETFs had already achieved a remarkable feat by “flipping” gold ETFs in AUM on December 17, as reported by K33 Research.

This approval has played a significant role in driving up the asset's value. On January 10, 2024, bitcoin was trading at around $46,000. At the time of writing, the asset is hovering at $94,000, having crossed the $100,000 mark for the first time on December 4 and again on January 6.

Among the bitcoin ETFs, BlackRock's iShares Bitcoin Trust has emerged as the clear frontrunner, boasting almost $53 billion in AUM. As Bloomberg aptly put it, “Simply put, no ETF has ever had a better debut.”

After BlackRock's bitcoin ETF, the other funds rounding up the top five include:

Fidelity Wise Origin Bitcoin Fund: $19.6 billion in AUM

Grayscale Bitcoin Trust ETF: $19.2 billion in AUM

ARK 21Shares Bitcoin ETF: $4.5 billion in AUM

Bitwise Bitcoin ETF: $4.2 billion in AUM

Following the approval of bitcoin ETFs, the next logical step was spot ethereum ETFs, which received the green light and commenced trading in July 2024. According to BlockWorks, these ETFs currently hold $10.1 billion in AUM.

With the crypto-friendly Trump administration now in place, optimism is running high among bulls for the approval of a range of altcoin ETFs this year. Among the anticipated launches, a solana ETF may materialize soon, with both VanEck and 21Shares having filed applications for the product. Additionally, Ripple President Monica Long recently told Bloomberg that an XRP ETF could be on the horizon.

The author of this article, Yaël Bizouati-Kennedy, is a financial journalist who has written for Dow Jones, The Financial Times Group, and Business Insider, among others.