Bitcoin exchange-traded merchandise (ETPs) now maintain greater than 1.47 million Bitcoin, amounting to 7% of the cryptocurrency’s most 21 million coin provide.
US-based exchange-traded funds for Bitcoin (BTC) have scooped up the most important share, with their holdings exceeding 1.29 million BTC held throughout all 11 funds as of Sunday, Aug. 31, in line with information shared by X account HODL15Capital on Monday.
BlackRock’s iShares Bitcoin Belief ETF (IBIT) held probably the most out of any fund at 746,810 BTC, whereas the Constancy Clever Origin Bitcoin Fund (FBTC) was the second largest with its holdings just below 199,500 BTC.
International Bitcoin ETPs have added greater than 170,000 BTC, price roughly $18.7 billion, between Dec. 31, 2024, and Aug. 31, 2025.
Demand for Bitcoin ETPs appears to be slowing down, as international Bitcoin ETPs noticed a internet outflow of $301 million for the month of August, whereas Ethereum funds attracted inflows of $3.95 billion throughout the identical interval, CoinShares reported on Monday.
Bitcoin demand slows
The demand for Bitcoin is slowing down as crypto whales have rotated billions of {dollars} towards Ether (ETH).
On Monday, a Bitcoin whale offered 4,000 BTC for 96,859 Ether over the span of 12 hours. The whale now holds $3.8 billion price of Ether.
Blockchain information platform Arkham reported on Wednesday that 9 whales have collectively booked a revenue in Bitcoin and have rotated into ETH, with their buys amounting to $456 million.
Associated: US ETFs now a serious supply of Bitcoin spot buying and selling quantity: CryptoQuant
The downturn in Bitcoin comes at a time when September has traditionally been the weakest month for the asset, whereas the value of gold notches increased.
One other issue that’s doubtless inflicting traders to avoid wasting betting on Bitcoin is that as many as 92 crypto-related ETFs are pending with the US Securities and Trade Fee, with a few of the most-anticipated funds monitoring Solana (SOL) and XRP (XRP) due for the regulators’ closing resolution in October.
Pseudonymous Bitcoin analyst PlanC stated that Bitcoin’s path to $1 million would possibly face hurdles.
“As an alternative, we simply hold grinding slowly upward to $1,000,000 over the following seven years in a really boring and underwhelming approach,” PlanC stated.
Analysis agency Delphi Digital stated that Bitcoin would possibly rally after which crash after the Federal Reserve cuts rates of interest, supplied the asset will increase in value beforehand; nonetheless, the agency stated the value of Bitcoin will stay secure if it doesn’t garner a lot exercise main as much as the Fed charge minimize.
Journal: XRP ‘cycle goal’ is $20, Technique Bitcoin lawsuit dismissed: Hodler’s Digest, Aug. 24 – 30