ETF institutions hold three percent of all BTC

According to yCharts there are currently 19.61 million Bitcoin in circulation. About 0.5 percent of that - a total of 97,342 BTC - is held by custodians including BlackRock and Fidelity, according to data from Flipside Crypto. If you add the Grayscale Bitcoin Trust (GBTC), the spot ETF's account for just under three percent of the current BTC in circulation.

Despite the strong outflow the GBTC ETF still has a balance of 482,590 BTC, as shown from data from Coinglass. BlackRock and Fidelity do not own Bitcoin themselves. Nine of the 11 ETFs - including IBIT and GBTC - are held in custody by Coinbase.

With about 189,150 BTC, MicroStrategy defends it's first place among publicly traded companies with Bitcoin assets. This means Michael Saylor's company owns just under one percent of all existing BTC.

Due to the balanced trading volume in the weeks since the ETF's launch, the BTC price has barely risen. In a daily comparison, the leading cryptocurrency has risen just under two percent and is trading at USD 42,960 at the time of writing.