BlackRock's iShares Bitcoin Trust (IBIT) now holds approximately 357,736 BTC, while Grayscale’s GBTC accounts for 227,712 BTC. Together, these ETFs represent 2.97% of Bitcoin’s total circulating supply, according to recent data from Glassnode. Additionally, Grayscale holds 5,962 BTC in its Digital Large Cap Fund and 32,692 BTC in its Bitcoin Mini Trust.
U.S. spot Bitcoin ETFs saw net inflows of $202.6 million yesterday, extending an eight-day streak of investments. Last week alone, these products attracted $543 million, with $252 million of that coming in on Friday, marking the highest single-day inflow since July 22.
The recent surge in Bitcoin ETF inflows was largely driven by comments from Federal Reserve Chair Jerome Powell at the Jackson Hole Economic Policy Symposium. Powell hinted at potential interest rate cuts in the near future, which spurred market optimism. Bitcoin’s price jumped above $64,000 following Powell's remarks but has since retraced to around $62,300, reflecting a 2.6% decline in the past 24 hours. Despite this, Bitcoin remains up 2.9% for the week.
The growing holdings of Bitcoin by BlackRock and Grayscale highlight the increasing institutional adoption of digital assets, influenced by broader economic signals and investor sentiment.