Bitcoin exchange-traded funds (ETFs) have reached a significant milestone, with over 1 million BTC now held in custody by these investment vehicles designed to track the price performance of the cryptocurrency. According to data shared by Michael Saylor, the executive chairman of MicroStrategy, on Twitter, more than 30 Bitcoin ETFs collectively own 1,002,343 BTC as of May 24.

The majority of these Bitcoin holdings are held within the U.S. Bitcoin spot ETFs, which were launched in January. The largest funds, the Grayscale Bitcoin Trust and BlackRock’s iShares Bitcoin Trust, each hold roughly half of the BTC, with 289,040 BTC and 287,168 BTC, respectively. Other significant Bitcoin ETFs include the Fidelity Wise Origin Bitcoin Trust (161,538 BTC), the Ark 21Shares Bitcoin ETF (48,444 BTC), and the Bitwise Bitcoin ETF (36,185 BTC). Internationally, Canada’s Purpose Bitcoin ETF, the first to launch globally, holds 27,110 BTC and remains the largest Bitcoin ETF.

These holdings represent approximately 5% of the total circulating supply of Bitcoin worldwide, currently valued at $70.5 billion. Notably, the BTC held by ETFs is almost five times the size of Saylor’s personal Bitcoin stash, which amounts to 214,400 BTC ($15 billion).

Bitcoin ETFs provide investors with exposure to Bitcoin through the familiar ETF structure, allowing them to include the asset alongside other securities within retirement or tax-advantaged accounts. These ETFs also enable large institutions to gain exposure to Bitcoin. First-quarter reporting data revealed that over 20% of exposure to U.S. spot Bitcoin ETFs was held by large investors and institutions with total assets exceeding $100 million. This includes hedge funds, banks, and even the state of Wisconsin’s pension fund.