Ten spot Bitcoin ETFs in the United States now hold a staggering $54.09 billion, making up 4.07% of Bitcoin's total circulating supply, according to data from SoSo Value. Notably, Grayscale remains the largest ETF holder, boasting $27.11 billion worth of Bitcoin, despite significant outflows.

Further, as of February 5, 2024, MicroStrategy, led by the fervent Bitcoin advocate Michael Saylor, holds 190,000 Bitcoins – equivalent to 0.98% of Bitcoin's supply, valued at $11.88 billion. The publicly-listed data intelligence firm excelled in its Bitcoin acquisitions, securing a substantial 95% gain on its BTC holdings to date.

Together, the combined holdings of MicroStrategy and spot ETFs surpass the 5% threshold of Bitcoin's current supply. 

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Spot ETFs Surge

With a market cap of around $1.328 trillion, the surge in spot Bitcoin ETFs reflects a powerful shift in investment patterns. Total net inflows into U.S.-listed spot Bitcoin ETFs witnessed a robust $472.6 million on March 7. 

Fidelity's FBTC ETF set a record with a single-day net inflow of $473.4 million, contrasting with Grayscale's GBTC fund experiencing a single-day net outflow of $374.8 million.

However, data from K33 Research senior analyst Vetle Lunde indicates that, by the end of today's U.S. market session, the rest of the nine Bitcoin ETFs are on track to surpass GBTC's holdings.

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Government Holdings

It's worth noting that the U.S. government also commands a considerable position in Bitcoin, controlling up to 215,000 BTC ($14.65 billion), constituting 1.1% of the circulating supply. These coins were seized in various criminal cases, including those related to Silk Road and the Bitfinex hack from 2016.