BlackRock and Fidelity Push Bitcoin ETFs to 1.25M BTC Record as Price Tests $113K

TLDR:

• BlackRock and Fidelity ETFs now hold over 75% of U.S. Bitcoin ETF supply, totaling 1.25M BTC in record holdings.
• BlackRock’s iShares Bitcoin Trust leads with 748,968 BTC, nearly 60% of all ETF-held Bitcoin in the U.S. market.
• Grayscale’s GBTC has dropped from more than 620,000 BTC to just 180,576 BTC, losing its once-dominant position.
• Bitcoin trades near $113,795, down 1.43% in 24h, testing $112.9K support with risk of further slide to $111K.

Wall Street’s biggest players are reshaping Bitcoin ownership. U.S. Bitcoin spot ETFs have reached fresh heights with a combined 1.25 million BTC under management. 

The surge reflects aggressive accumulation by BlackRock and Fidelity, who now dominate institutional holdings. 

At the same time, Grayscale’s influence continues to fade as outflows erode its position. Traders, however, remain cautious as Bitcoin’s price holds just above a fragile support level.

BlackRock and Fidelity ETFs Dominate Bitcoin Holdings

Data shared by CryptoQuant revealed that U.S. spot Bitcoin ETFs now control an all-time high of 1.25 million BTC. The milestone reflects the growing role of traditional finance in digital assets, with BlackRock and Fidelity leading the charge.

BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated 748,968 BTC, equal to almost 60% of all ETF-held BTC in the U.S. Fidelity’s Wise Origin Bitcoin Fund (FBTC) follows with 199,798 BTC. Together, the two firms account for more than three-quarters of the entire ETF market.

This marks a decisive shift in power. Grayscale’s Bitcoin Trust (GBTC), which once held over 620,000 BTC as the dominant vehicle for institutional investors, now holds just 180,576 BTC. The landscape has changed, with investors shifting to funds offering lower fees and stronger market depth.

The reshuffle highlights a new hierarchy in institutional crypto exposure. Instead of one player controlling the bulk of assets, two asset managers now set the tone for BTC accumulation in the U.S. ETF space.

Bitcoin Price Stalls Near $113K Support

While ETFs expand holdings, Bitcoin’s spot price continues to face downward pressure. Analyst Wise Crypto noted in a recent update that BTC is locked in a bearish pattern with lower highs and lower lows on the four-hour chart.

The coin is currently trading near $113,795, according to CoinGecko. This reflects a 1.43% decline in the past 24 hours and a 5.15% drop over the past week.

The critical support at $112,900 has been retested multiple times. If this level breaks, bears could drive prices down to $111,000 or even $110,000. Resistance sits higher at $116,000 to $118,000, a range BTC must reclaim to reverse the current trend.

Wise Crypto explained that the recent rebound from $112,900 looked corrective rather than a shift in momentum. Until Bitcoin climbs above $116,000, sellers remain in control and short-term weakness is likely to persist.

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