Since Bitcoin spot ETF opened the floodgates for mainstream capital inflow, it has shown strong money-making power in a short period of time. Recently, with the release of the US 13F (institutional holdings report), the positions of institutions participating in the "sweeping" of Bitcoin spot ETFs have also been exposed. So, how is the market development of Bitcoin spot ETF? Which ETF products have the investment tycoons configured, and what investment signals have they released?

More than 50 billion US dollars have poured in, and the United States occupies nearly 90% of the global share

Looking at the market size of Bitcoin spot ETFs around the world, the United States is undoubtedly the main force. According to HODL15Capital data monitoring, as of May 7, the US Bitcoin spot ETF has held 827,321 million BTC in 4 months since its launch, with a value of approximately US$52.1 billion, accounting for 89.5% of the global market.

However, in terms of the growth rate of funds, the inflow of funds into the US Bitcoin spot ETF mainly came from the two months after its listing, and reached a peak of 836,000 BTC in mid-March this year, and then began to show a slight downward trend month by month.

Among the 11 US Bitcoin spot ETFs, the top three are Grayscale, BlackRock and Fidelity, which have shown strong "money-attracting power", holding a total of 719,000 BTC (worth $26.91 billion), accounting for 86.9% of the total, which is about 3.3 times that of the "Bitcoin giant" MicroStrategy. In contrast, Franklin Templeton, WisdomTree and Hashdex performed relatively weakly, accounting for only 8.8%.

In terms of asset size, only Grayscale and BlackRock's two Bitcoin spot ETFs are over 10 billion US dollars. Among them, Grayscale has been in a state of continuous capital outflow since GBTC converted to spot ETF, and it was not until recently that capital inflows first appeared. The number of BTCs currently held is only 47% of that in January this year; BlackRock has basically been growing in the past few months, but the expansion rate has slowed down or even slightly declined since mid-April.

In addition, as the first market in Asia to issue spot Bitcoin ETFs, as of May 7, the three Hong Kong Bitcoin spot ETFs have held a total of 4,256 BTC, with an asset management scale of US$270 million, but this is only about 0.7% of the first day of listing of the US Bitcoin spot ETF, and there has been no obvious growth trend within a week of going online. It is worth mentioning that there have been recent market reports that the Hong Kong Bitcoin spot ETF may be included in the Shanghai-Hong Kong Stock Connect program, but the Hong Kong ETF issuer denied it, saying that it was pure rumor, just like the previous rumors that southbound funds could buy Hong Kong Bitcoin ETFs.