K33 Research senior analyst Vetle Lunde posted on the X platform: "The global Bitcoin ETP currently holds 864,719 BTC. This is equivalent to 4.4% of the circulating supply of BTC and accounts for approximately 45% of cryptocurrency exchange reserves.
ETFs are an important part of the Bitcoin market structure, having an impact on both the spot market and CME, and their relevance will only increase further.
The nascent U.S. Spot Bitcoin ETF currently holds over 80,000 BTC. BlackRock and Fidelity both made the top six. GBTC has been by far the biggest loser since the ETF launched. Canada-based Purpose and CI Galaxy, as well as Europe-based BTCE, have also faced considerable outflows. "