Which funds does this dashboard cover?

Every US spot Bitcoin ETF on the board, with its net assets, share of the complex, BTC held, daily and cumulative flow, premium or discount to net asset value, and sponsor fee. Futures funds are left out.

What does a redemption actually mean?

An authorised participant handing shares back to the fund in exchange for cash or coin. It is not always a seller taking a view: unwinding an arbitrage position uses the same mechanism.

How current are the figures on this dashboard?

Every ten minutes. The date under the headline is the last session the data covers, usually yesterday, because funds report after the close.

Bitcoin ETF dashboard

Q: Does a spot Bitcoin ETF actually hold BTC?

Yes. A spot fund holds coins with a custodian and the share price tracks the value of those coins less the fee. A futures ETF holds contracts instead and pays a roll cost that shows up as tracking drag.

Q: Do ETF inflows push the BTC price up?

Over weeks they remove supply from the float and that shows up in price. Over a single day the link is loose: baskets settle on a lag and market makers hedge in advance, so a flow print describes what already happened.

Q: Is holding the ETF better than holding BTC?

They are different products. The fund gives you managed custody, a wrapper your broker understands, and a fee. Holding the coin gives you an asset nobody can freeze and a set of responsibilities.

How much Bitcoin the US spot ETFs hold, what each fund charges for it, and how concentrated the money has become in the two funds that won.

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Net assets

Across the reporting funds

BTC held

--BTC

Reported holdings across the funds

Share of supply

Of circulating supply

Cumulative net inflow

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Since the series began

Bitcoin (BTC) ETF Net Flows

Daily above, cumulative below, one shared time axis

Unit

Window

Daily BTC ETF Flows

Date	Net flow		Cumulative	BTC close	Net assets
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Bitcoin (BTC) Spot ETFs

How to read this →

	Fund	Net assets	Share	Daily flow	Cumulative flow	Prem / disc	Fee
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About this data

Updated Sep 2026

Figures are shown as the source publishes them, and anything we calculate is explained below. How the data is made Report an error General information, not financial advice.

What this dashboard measures

A spot Bitcoin ETF is a wrapper. Money goes in, the fund buys BTC, and the shares you own are a claim on coins a custodian holds. So the size of a fund is not a sentiment reading, it is a count of coins that have left the float and sit in cold storage against a share class.

Everything on this page follows from two numbers per fund: the price of a share and the fund's net assets. Divide one into the other and you have the share count. Divide net assets by the BTC price and you have the coins behind it. Both are checkable, which is the point.

Why concentration is the number that matters

Eleven funds launched on the same January morning in 2024 with near-identical products. Within a year the outcome was decided, and it was not close. One fund holds more than half the complex, and the top three hold the overwhelming majority of it.

That matters for two practical reasons. Liquidity concentrates where the assets are, so the largest fund's spreads and options market are in a different league from the rest. And a single fund holding this much of a supply-capped asset is a structural fact about Bitcoin, not a marketing statistic.

The fee war did not decide it

The most expensive fund in the complex by a factor of six is still among the largest. It was converted from a trust whose holders bought years earlier at far lower prices, so leaving means realising a capital gain that dwarfs the fee. Its cumulative flow is deeply negative and it is still enormous. Distribution and inertia beat price.

How to read the flow chart

A creation is an authorised participant delivering cash or coin to the fund in exchange for new shares, which is how a fund grows. A redemption is the reverse. Net creations across the complex are the closest thing there is to a daily count of institutional demand.

Green is money entering the wrapper, and coins leaving the exchange float.
Red is money leaving it, though not always selling: a redemption can be an arbitrage unwind rather than a view on the asset.
The scale is the point: A billion dollar day against roughly thirty billion of spot volume is a real bid, not a rounding error.

How flows move the price, and how they do not

The mechanical link is real but slower than most commentary suggests. A fund does not buy at the moment you buy its shares. Creations settle in baskets, the market maker has usually already hedged, and the coin purchase can land a day later. So a flow print is a description of yesterday rather than a prediction of today.

What flows do explain is the floor under a drawdown. Coins bought by a fund are not traded back out on the next dip, because the holder base is not the same as the one that trades the spot market. That is why sustained inflows compress volatility rather than spike price.

What it cannot tell you

The latest session is often incomplete: Funds report at different times, so a fund with no figure yet reads "pending" rather than zero. A zero and a missing number mean very different things and the table keeps them apart.
Flows are net, not gross: A quiet day can hide a large creation against a large redemption, and the chart cannot show you that.
A redemption is not always a seller: Authorised participants unwind arbitrage positions through the same mechanism, so an outflow print is not proof of a view.
Per-fund flow is summed, not charted: Each fund's flow is published for every session; this page adds those up into the table's daily and cumulative columns, but only the complex's aggregate is charted.
Cumulative flow starts where the series starts: The Bitcoin flow series begins on 11 January 2024, the funds' first day, so a converted trust carries every redemption since then into its figure, which is why one line reads deeply negative.

Not investment advice

This page describes the structure of a market, not what to do about it. Nothing here is a recommendation to buy or sell any fund or any asset. Expense ratios, holdings and prices change, and the figures here are only as current as the timestamp beside them.

Questions

Does a spot Bitcoin ETF actually hold BTC?

Yes. A spot fund holds coins with a custodian, and the share price tracks the value of those coins less the fee. That is what separates it from a futures ETF, which holds contracts and pays a roll cost that shows up as tracking drag over time.

Why is one fund so much larger than the rest?

Distribution. The largest issuer had the platform relationships, the model portfolios and the options market on day one, and liquidity compounds: the tightest spreads attract the flow that keeps the spreads tightest. Being early and cheap mattered far less than being everywhere.

Why does the most expensive fund still hold so much?

Because it was converted from an existing trust rather than launched. Its holders bought years earlier at much lower prices, so leaving means realising a capital gain. The fee is high, and the tax bill for escaping it is higher.

Do ETF inflows push the BTC price up?

Over weeks, they remove supply from the float and that shows up in price. Over a single day the link is loose: baskets settle on a lag and market makers hedge in advance, so a flow print describes what already happened rather than predicting the session ahead.

Is holding the ETF better than holding BTC?

They are different products. The fund gives you custody you do not have to manage, a wrapper your broker and your accountant already understand, and a fee. Holding the coin gives you an asset nobody can freeze and a set of responsibilities. Neither is the better answer in general.

How current are these numbers?

Every ten minutes. The date under the headline is the last session the data covers, which is usually yesterday, because funds report after the close.