On December 20th, according to the latest report from K33 Research, institutional investors purchased a total of 859454 bitcoins in 2024, accounting for approximately 4.3% of the total circulating supply, equivalent to the 8-year issuance of bitcoins. Among them, spot ETF funds have cumulatively increased their holdings of 561781 bitcoins. Currently, the total managed size of ETFs in the United States has reached 1.4 million bitcoins, with BlackRock’s IBIT holdings being the largest, reaching 542653 bitcoins worth approximately $54 billion.
In terms of listed companies, they will increase their holdings of 297673 bitcoins in 2024, of which MicroStrategy has purchased nearly 250000 through an active financing strategy, and currently holds 439000 bitcoins. The report points out that although about 230000 bitcoins came from bankruptcy liquidation and seized assets (including Mt. Gox and the German government) this year, institutional demand effectively absorbed the selling pressure. Currently, about 22% of the circulating supply can be traded in the market, approaching the high level of 2021.

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