On June 28, Axel Adler Jr. shared updated data on X regarding spot BTC ETFs. From early April 2025, total BTC held by U.S. spot ETFs (excluding GBTC) increased from 932,000 to 1,056,000 BTC—a growth of 124,000 BTC over 87 days, averaging 1,430 BTC daily. BlackRock’s IBIT was the primary driver, adding 118,000 BTC, while other ETFs contributed just 6,000 BTC. This underscores BlackRock’s dominance in the spot BTC ETF sector and reflects evolving institutional exposure to Bitcoin.
Weekly Net Inflows Highlight Ongoing Investor Interest
Recent data reveals sustained momentum:
- BlackRock IBIT: Recorded $1.31 billion** in net inflows during the latest week, peaking at **$436.3 million on June 24.
- Daily Inflows: Every trading day that week saw positive net inflows across spot BTC ETFs.
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Key Takeaway: Steady inflows (averaging 1,430 BTC/day) suggest enduring demand, with total ETF-held BTC potentially exceeding 1.3 million (6.2% of circulating supply) by Q3 2025.
Concentration Among Major Players
Spot BTC ETF holdings are highly concentrated:
- BlackRock IBIT: 673,000 BTC
- Fidelity FBTC: 302,000 BTC
- Grayscale GBTC: 185,000 BTC
This consolidation highlights the outsized role of a few asset managers in shaping Bitcoin’s ETF-driven market structure.
Long-Term Holder Activity Signals Potential Bullish Trends
Adler’s on-chain analysis notes parallels to past bull cycles:
- LTH Accumulation: Preceded rallies (e.g., $28K → $60K and $60K → $100K).
- Current Pattern: LTHs are increasing their share, mirroring pre-rally phases.
Conservative Forecast: Applying a ×1.6 multiplier from past cycles suggests a $160,000 price target—though Adler cautions this is illustrative, not guaranteed.
FAQ Section
Q1: How much BTC do U.S. spot ETFs hold?
As of June 2025: 1,056,000 BTC (excluding GBTC), up 124,000 BTC since April.
👉 Explore Bitcoin ETF Growth Trends
Q2: Which ETF holds the most Bitcoin?
BlackRock’s IBIT leads with 673,000 BTC—over 63% of the non-GBTC total.
Q3: What does LTH accumulation indicate?
Historically, sustained LTH buying has preceded major price rallies, suggesting bullish sentiment.
Final Insight: The data points to deepening institutional adoption, with ETFs poised to reshape Bitcoin’s supply dynamics. While past patterns offer clues, market conditions remain fluid.
👉 Learn More About Bitcoin Investment Strategies
### Keywords:
1. **Spot BTC ETFs**
2. **BlackRock IBIT**
3. **Bitcoin Holdings**
4. **Institutional Demand**
5. **Long-Term Holders (LTHs)**
6. **BTC Price Forecast**