BlackRock and Fidelity Control Over 70% of All U.S. Spot Bitcoin ETFs

BlackRock and Fidelity Control Over 70% of All U.S. Spot Bitcoin ETFs — IBIT Alone Holds 3.3% of Circulating BTC

As of June 5, 2025, the 12 U.S.-listed spot Bitcoin ETFs collectively manage over 1.2 million BTC, representing a significant portion of the digital asset’s total supply. Leading this accumulation are BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC), which together control more than 71% of total ETF-held Bitcoin.

BlackRock’s IBIT Dominates the Market

Launched on January 11, 2024, IBIT has quickly established dominance, now holding approximately 662,707 BTC — equivalent to 55.23% of all Bitcoin held by U.S. ETFs.

• This amount accounts for:

  • 3.16% of Bitcoin’s fixed supply cap (21 million)

  • 3.34% of currently circulating supply (~19.87 million BTC)

• IBIT’s average daily BTC purchase rate stands at 1,296.88 BTC.

• At this pace, IBIT is projected to surpass 1 million BTC by February 21, 2026.

Fidelity’s FBTC Takes a Cautious Path

Fidelity’s FBTC has taken a more measured accumulation approach:

• Total BTC held: 196,264 BTC

• Estimated value: ~$20 billion

• Average daily BTC acquisition: 389.34 BTC

• If maintained, FBTC will reach 500,000 BTC by July 18, 2027.

A Benchmark from MicroStrategy

By comparison, MicroStrategy — which rebranded itself around its Bitcoin strategy — has acquired Bitcoin since August 11, 2020, at an average rate of 330.09 BTC per day.

• At this pace, MicroStrategy would hit 1 million BTC by October 27, 2028.

Institutional Accumulation Signals Strategic Shift

The aggressive accumulation by major asset managers is not merely a bet on BTC’s price appreciation. Instead, it reflects a strategic bid for influence in the emerging digital monetary order. As more institutions integrate Bitcoin into their financial products, BTC’s role as a global macro asset and potential reserve currency is increasingly solidified.