As of Nov. 14, U.S.-listed spot Bitcoin (BTC) exchange-traded funds (ETFs) hold about 1.07 million BTC. This amount is worth nearly $96 billion at current prices.
Bloomberg ETF analyst James Seyffart noted that these ETFs are close to surpassing the estimated 1.1 million BTC owned by Bitcoin’s creator, Satoshi Nakamoto.
Senior ETF analyst Eric Balchunas highlighted BlackRock’s iShares Bitcoin Trust (IBIT) reaching over $40 billion in assets under management (AUM) within 211 days. This accomplishment places it in the top 1% of all ETFs.
Balchunas emphasized that IBIT achieved this milestone six times faster than the previous record holder, the iShares Core MSCI Emerging Markets ETF (IEMG), which took 1,253 days.
Significant Weekly Inflows
According to Farside Investors data, U.S.-traded spot Bitcoin ETFs attracted around $2.4 billion in inflows this week. IBIT led the inflows with nearly $1.8 billion, making up about 73% of the total.
This week’s inflow amount has already surpassed last week’s $1.6 billion, provided no major outflows occur.
A recent report from Glassnode revealed a shift in investor behavior. Many investors now prefer spot-driven Bitcoin exposure through ETFs over futures contracts. The report pointed to the Nov. 12 perpetual futures market premium peak, which stayed below March levels. This suggests spot buying is the primary driver of Bitcoin’s recent rally.
Will Vanguard Enter the Bitcoin ETF Market?
Nate Geraci, CEO of The ETF Store, predicted that Vanguard could start offering spot Bitcoin and Ethereum (ETH) ETFs. While Vanguard has so far resisted crypto products, Geraci expects this shift could happen next year if BTC remains stable.
Seyffart agreed with Geraci’s view. However, Balchunas remains skeptical. He argued that Vanguard’s size might discourage it from adopting crypto ETFs. Still, he criticized Vanguard’s choice to avoid crypto ETFs, seeing it as a missed opportunity.
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