Through spot ETFs, BlackRock and Fidelity currently hold a total of 524,390 bitcoins worth $31.6 billion.
Of the total 21 million bitcoins, more than 500,000 BTC belong to these two ETFs alone, accounting for about 2.5% of the total.
Driven by ETFs, more institutions are expected to join the ranks of buying and hoarding bitcoin.
Once governments, especially those with major economies around the world, use BTC as a strategic reserve, it will become a greater driving force.
