• Bitcoin ETFs now hold over 1 million BTC worth $72.5 billion
• BlackRock’s IBIT has surpassed 1 million BTC in assets under management
• Bitcoin ETFs saw inflows of $896 million on October 30th, the second-largest single-day inflow
Bitcoin exchange-traded funds (ETFs) have seen tremendous growth in 2022, with total assets under management surpassing 1 million BTC worth over $72 billion. This milestone demonstrates the success of these investment vehicles in opening up crypto to institutional investors.
Surging Inflows Drive BTC Holdings Above 1 Million
Throughout 2022, Bitcoin ETFs have attracted significant inflows from investors. According to data from CoinGlass, inflows reached $896 million on October 30, marking the second-largest single-day amount in the 10-month history of these products.
The leading Bitcoin ETF issuer is BlackRock, whose iShares Bitcoin Trust (BITO) has surpassed 1 million BTC in assets under management. Across all issuers, Bitcoin ETFs now hold more than 1 million BTC worth over $72 billion. The massive inflows this year of over $23 billion have driven these holdings up dramatically.
Uptober Fuels Interest in Crypto Investment Products
A key factor behind the growth is the positive momentum for Bitcoin in October, traditionally viewed as a significant month for price gains. With BTC maintaining levels above $20,000 in “Uptober,” sentiment has turned bullish.
Bitcoin is currently trading around $21,500, up more than 14% over the last 30 days. While still below its all-time high of $69,000 from March 2022, the recent uptrend has driven more institutional investment into vehicles like the ETFs.
Milestone Comes 16 Years After Bitcoin Whitepaper Release
Interestingly, this milestone for Bitcoin ETFs comes on the 16th anniversary of the release of the original Bitcoin whitepaper on October 31, 2008. On that date, Satoshi Nakamoto published the paper that outlined the vision for Bitcoin, planting the seeds for the creation of the first cryptocurrency.
While it took over a decade for ETFs and other institutional investment products to develop, they now play a major role in the growth of the asset class. As we mark the anniversary of Bitcoin’s whitepaper, the success of ETFs this year underscores how far the cryptocurrency industry has come.
