• Spot Bitcoin ETFs hit 1 million BTC milestone, holding 5% of the total supply.
  • The top three Bitcoin ETF holders are Grayscale, BlackRock, and Fidelity.
  • Upcoming US elections may impact Bitcoin's price following Donald Trump's latest pro-crypto comment.

Bitcoin (BTC) ETFs worldwide now hold a record 1 million BTC, according to a recent X post by MicroStrategy CEO Michael Saylor. With the new milestone, Bitcoin may see a rally as Presidential candidate Donald Trump makes another pro-crypto comment.

Also read: Bitcoin Weekly Forecast: BTC struggles, but $80K is at striking distance

Bitcoin ETFs set new record

Michael Saylor, CEO of MicroStrategy, recently made an X post on Monday about the significant achievement across Bitcoin ETFs worldwide, stating, "32 spot Bitcoin ETFs now hold '1 Nakamoto' of BTC," referring to 1 million BTC. This milestone was attained a little more than four months after Bitcoin ETFs went live on January 10.

US Bitcoin ETFs currently hold the largest amount, totaling 855,619 BTC. Grayscale, BlackRock, and Fidelity lead the list, with a combined holding of 737,746 BTC. BTC holdings among offshore ETFs also rose significantly.

Read more: Digital asset weekly inflows jump over 600% following response to CPI report

Countries like Germany, Canada, Switzerland, and Hong Kong have continued to acquire spot Bitcoin ETFs, with Purpose Bitcoin ETF leading the pack, storing a total of 27,110 BTC, 7,000 BTC higher than Germany's BTCE with 20,837 BTC. Many have speculated that Bitcoin may see a rally following the milestone.

However, as the crypto community continues to await a price surge for Bitcoin, other factors may also influence the current state of the market.

During the weekend, Presidential candidate Donald Trump continued his bid to gain support from the crypto community after stating that he desires to make the United States a "leader in the field."

Also read: Ethereum spot ETFs are good for Bitcoin, says Michael Saylor, as ETH bulls show confidence

Trump stated that if he is elected president, his administration will fully support crypto companies. He is also the first Presidential candidate to accept campaign donations in Bitcoin.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram

Recommended content

Recommended Content

Editors’ Picks

Ripple rides RWA narrative with Archax collaboration, XRP extends seventh day of losses to 8%

Ripple rides RWA narrative with Archax collaboration, XRP extends seventh day of losses to 8%

Ripple announced that the payment remittance firm extended its collaboration with FCA regulated digital securities exchange Archax. The collaboration is focused on Real World Asset tokenization, an emerging narrative in the ecosystem. 

More Ripple News

ONDO extends gains despite surge in profit-taking

ONDO extends gains despite surge in profit-taking

ONDO, the governance token of Ondo Finance, trades in the green on Friday, defying the effects of a surge in profit taking from large-wallet investors following the 76% gains seen in the past 30 days. 

More ONDO News

Monero price poised for a downward correction

Monero price poised for a downward correction

Monero (XMR) price has encountered resistance at a critical level. The technical outlook suggests a potential short-term correction as momentum indicators signal a bearish divergence.

More Cryptocurrencies News

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin braces for potential short-term correction

Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Bitcoin braces for  potential short-term correction

Bitcoin price daily candlestick closes below the weekly support level of $67,147. Ethereum price is weakening and could retrace to its immediate support at $3,321. Ripple price fails to close above the 50-day Exponential Moving Average.

More Cryptocurrencies News

Bitcoin: Has BTC found a local price bottom?

Bitcoin: Has BTC found a local price bottom?

Bitcoin (BTC) price looks set for a mild fall this week, weighed by slight outflows in the US spot ETFs and the US Federal Reserve (Fed) keeping a hawkish interest-rate outlook despite easing inflation. Technical indicators suggest that BTC could face a further 5% correction in the short term before resuming the uptrend.

Read full analysis