Whales Double Down on Bitcoin, Now Hold Over 40% of Supply


Whales have been steadily accumulating bitcoin, with addresses possessing over 1,000 BTC collectively controlling more than 40% of the total supply.

Bitcoin whales have increased their holdings, controlling over 40% of bitcoin’s total supply. The trend highlights the growing influence of these large investors on the digital asset’s market dynamics. 

Since mid-March, there has been a notable trend of large bitcoin holders accumulating more tokens. 

Whales Love Bitcoin

The latest data suggests that whale addresses now collectively owns more than 40% of the total bitcoin supply.  The ownership indicates growing confidence and conviction among wealthy investors and institutions in BTC’s future price performance, as investor sentiment remains bullish on the leading asset.  

Historically, accumulation by large holders has frequently preceded major price rallies by reducing the circulating supply and increasing scarcity.  The consistent accumulation by whales indicates their expectation that bitcoin’s value will keep rising, potentially attracting more institutional adoption and fueling the next bull run.  

Spot ETFs Driving Whale Accumulation?   

The development comes amid investors actively investing in spot Bitcoin ETFs, with Wednesday witnessing the highest inflow since March. The surge in interest aligns with BTC trading above $71,000. These investment instruments, approved by the US Securities and Exchange Commission (SEC) in January, have significantly legitimized and streamed market participation.

Farside data reveals that spot Bitcoin ETFs saw over $886 million in inflows on Tuesday. Fidelity’s FBTC led with $378 million, trailed by BlackRock’s IBIT at $270 million. Notably, Grayscale’s GBTC, usually experiencing outflows, attracted $28 million in investments. 

Recent positive global developments have boosted investor confidence in Bitcoin and the broader market. Hong Kong’s approval of Bitcoin ETFs last month and Australia’s introduction of its first direct spot Bitcoin ETF this week have contributed to this sentiment.

In a more recent development, the Thai Securities and Exchange Commission (SEC) approved One Asset Management, a local firm, to launch Thailand’s first spot Bitcoin ETF.