Based on current data, the 12 U.S. spot bitcoin exchange-traded funds (ETFs) collectively manage over 1.2 million BTC. Yet, two in particular—Blackrock’s IBIT and Fidelity’s FBTC—command a striking majority, accounting for more than 71% of that aggregate.
Wall Street’s Bitcoin Giants: IBIT, FBTC, MSTR Tighten Grip on Bitcoin’s Scarce Supply
Blackrock’s IBIT debuted on Wall Street on Jan. 11, 2024—exactly 1 year, 4 months, and 26 days ago. As of data collected on June 5, 2025, the firm’s Ishares Bitcoin Trust ETF controls roughly 662,707.41 BTC, translating to $69.2 billion in value. This single ETF alone accounts for 55.23% of the 1.2 million BTC managed by the 12 publicly traded bitcoin funds.
Blackrock’s cache of BTC is a staggering 662,707.41 BTC as of June 5. This reserve quote should lower following IBIT’s $130.49 million in outflows on Friday, June 6, 2025.
IBIT’s holdings comprise 3.16% of bitcoin’s 21 million fixed supply and 3.34% of the 19,875,085.22 BTC in circulation at the time of publication. No other crypto exchange-traded product (ETP) has achieved this scale of accumulation this fast. Although IBIT and its peers trade five days a week, observing holidays and pauses, if IBIT had been acquiring BTC every calendar day since Jan. 11, 2024, its daily haul would be approximately 1,296.88 BTC over that stretch.
If this cadence continues, Blackrock’s ETF is projected to reach 1 million BTC by Feb. 21, 2026—just 260 days from now—representing 4.76% of bitcoin’s hard cap. Fidelity’s FBTC, by contrast, has taken a more tempered route. Over the same 1 year, 4 months, and 26 days, it has gathered 196,264.34 BTC, currently worth just over $20 billion at prevailing rates. Applying identical calculations, FBTC has averaged 389.34 BTC per day since Jan. 11, 2024.
While FBTC holds the distinction of being the second-largest U.S. bitcoin ETF, its trajectory has been far more measured than IBIT’s accumulation. Should it maintain this current rhythm, FBTC would hit the 500,000 BTC milestone by around July 18, 2027. Consider Strategy (formerly Microstrategy), which initiated its bitcoin (BTC) acquisitions on Aug. 11, 2020. Averaged out, this translates to a daily accumulation rate of 330.09 BTC. If that same trajectory holds steady, Strategy will not cross the 1 million BTC threshold until Oct. 27, 2028.
The accelerating competition among major financial institutions for bitcoin dominance hints at a deeper strategic shift unfolding beneath the surface. With accumulation timelines now plotted years into the future, these ETFs are not merely chasing assets—they’re staking claims in a digital monetary order. What began as a race for returns may well evolve into a contest over monetary influence itself.
