Bitcoin ETPs Holding Over 1.47 Million BTC
Bitcoin exchange-traded products (ETPs) now possess more than 1.47 million Bitcoin, representing 7% of the total maximum supply of 21 million coins.
US Bitcoin ETFs Lead Holdings
US-based exchange-traded funds for Bitcoin (BTC) have claimed the largest portion of these holdings, with over 1.29 million BTC accumulated across all 11 funds as of Sunday, Aug. 31, according to data shared by X account HODL15Capital on Monday.
The BlackRock iShares Bitcoin Trust ETF (IBIT) boasts the highest amount among any fund at 746,810 BTC, while the Fidelity Wise Origin Bitcoin Fund (FBTC) comes in second with holdings just below 199,500 BTC.
Growth of Global Bitcoin ETPs
Global Bitcoin ETPs have amassed more than 170,000 BTC, approximately valued at $18.7 billion, during the period from Dec. 31, 2024, to Aug. 31, 2025.
Slowing Demand for Bitcoin ETPs
Interest in Bitcoin ETPs appears to be diminishing, as these products experienced a net outflow of $301 million in August. In contrast, Ethereum funds saw an inflow of $3.95 billion during the same timeframe, as reported by CoinShares on Monday.
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The waning demand for Bitcoin is evident, as crypto whales have shifted billions of dollars towards Ether (ETH).
Recent Whale Activity
On Monday, one Bitcoin whale offloaded 4,000 BTC in exchange for 96,859 Ether within just 12 hours. This whale now possesses $3.8 billion worth of Ether.
Arkham, a blockchain data platform, revealed on Wednesday that nine whales have together taken profits in Bitcoin, reallocating approximately $456 million towards ETH.
Market Conditions and Future Outlook
The current downturn in Bitcoin coincides with a historical trend where September has been a challenging month for the asset, while gold prices are on the rise.
Another contributing factor for investor caution regarding Bitcoin is the pending status of up to 92 crypto-related ETFs with the US Securities and Exchange Commission, including some highly anticipated funds tracking Solana (SOL) and XRP (XRP), which are set for a regulatory decision in October.
Bitcoin’s Journey to $1 Million
Pseudonymous Bitcoin analyst PlanC has noted that the journey to $1 million may encounter obstacles.
“Instead, we just keep grinding slowly upward to $1,000,000 over the next seven years in a very boring and underwhelming way,” PlanC stated.
Research firm Delphi Digital suggested that Bitcoin could experience a surge followed by a crash after the Federal Reserve reduces interest rates, assuming the asset appreciates beforehand; however, they mentioned that Bitcoin’s price might remain steady if it lacks significant activity leading up to the Fed’s rate cut.
