Bitcoin Holders’ Balances Reach Lowest Level Since July 2022

The number of coins held by long-term investors has decreased to 12.45 million BTC, marking the lowest point since July 2022, according to data from IntoTheBlock.

Bitcoin long-term holders are gradually reducing their balances, now holding 12.45 million BTC—the lowest level since July 2022.

So far, this decline is less severe than in past cycles. Long-term holder balances have fallen by 9.8% this cycle, compared to 15% in 2021 and 26% in… pic.twitter.com/eA5Cckrgs4

— IntoTheBlock (@intotheblock) December 3, 2024

According to experts, the current reduction rate of 9.8% from the peak is less than those observed in 2017 and 2021 (26% and 15% respectively).

Previously, Glassnode reached similar conclusions.

BTC-ETF

On December 2, inflows into spot Bitcoin ETFs amounted to $353.67 million.

$338.3 million of the total came from BlackRock’s IBIT. The number of coins on the entity’s balance exceeded 500,000 BTC.

The cumulative inflow since the approval of BTC-ETF in January has exceeded $31 billion. AUM of the products increased to $103.9 billion. IBIT accounts for $48 billion.

ETH-ETF

Inflows into ETH-ETF amounted to $24.2 million. The positive trend continued for the sixth consecutive day.

Throughout the period of the instruments’ circulation, investors directed $597.6 million. AUM of the instruments rose to $11.1 billion.

Earlier, Bernstein predicted the inclusion of staking in ETH-ETF.

Back in May, the Commission approved the 19b-4 forms for the instrument; two months later, the S-1 applications. None of the proposals included staking. At the time, Hester Peirce from the SEC assured that “any feature of the products is always open for review.”

In July, Bloomberg analyst Eric Balchunas suggested that both staking and the option for redemption in kind could become realities if there is a change in the U.S. presidency.