In a notable downturn, spot Bitcoin ETFs in the United States experienced a net outflow of $82.41 million on October 16. Despite this, a report from BitcoinTreasuries indicates that corporate Bitcoin holdings could skyrocket to a value of $400 billion by 2030, highlighting a trend toward long-term accumulation by companies.
BlackRock Leads the Exodus
According to Trader T data, BlackRock’s IBIT fund accounted for a staggering $71.8 million of the daily outflows, while Fidelity’s FBTC fund saw a $10.61 million outflow. BlackRock alone represented approximately 87% of total withdrawals. Meanwhile, other products like Grayscale’s GBTC, Bitwise’s BITB, and Ark Invest’s ARKB showed no significant inflows or outflows during the same period.
The total net outflow for Bitcoin ETFs in October has now reached $614.9 million. Despite these sizable outflows, the funds have recorded a net positive inflow of $315.5 million year-to-date. In a related trend, spot Ethereum ETFs saw an outflow of $69.7 million, marking the third consecutive day of net outflows in Ethereum funds.
Companies Increase Bitcoin Holdings
In contrast to ETF withdrawals, BitcoinTreasuries’ recent report illuminates the growing reserves of Bitcoin held by corporations. About 30% of the 4.2 million BTC monitored by the platform belong to publicly traded companies, accounting for around 20% of Bitcoin’s total supply. Altcoin reserves, recently added to the platform, are excluded from this ratio.
The scenario projecting a $400 billion valuation amalgamates the May 2025 forecast by Bernstein Research, which predicts publicly traded companies will acquire an additional $330 billion in Bitcoin by 2029, with the $70 billion already documented by the platform. This figure is neither Bernstein’s solitary estimate nor BitcoinTreasuries’ finalized forecast. Future growth will hinge on Bitcoin’s market price, corporate capital allocations, financing conditions, and the pace at which new companies initiate Bitcoin reserves.
The number of companies holding Bitcoin has escalated across all sizes, from small investors to large institutional reserves. Particularly notable is the growth among companies holding at least 10,000 BTC, which has increased sevenfold since 2023.
The report also noted that products classified as “digital credit” have amassed a total market value of approximately $15 billion. This market is primarily driven by five key products including Strategy’s STRC and its competitor, Strive’s SATA. Strategy alone issued over $7 billion in STRC this spring and has recently made around $1 billion in buybacks.
Surveys conducted by the platform reveal that 70% of respondents invest in digital credit products and 83% hold shares in companies with crypto reserves. A significant portion of participants remains unperturbed by potential pressures from corporate reserve sales and digital credit product pricing.
Justin Sun Maintains Bitcoin as a Core Portfolio Position
Alongside the shifts in corporate reserves and funds, TRON founder Justin Sun’s personal investment strategy has caught attention. In a detailed 3.5-hour discussion with Jin Ming, Sun disclosed that Bitcoin remains the cornerstone of his portfolio, maintaining his holdings over the past year without reductions.
Sun expressed his concerns regarding the impact of quantum computing and artificial intelligence algorithms, suggesting the market is yet to fully account for these risks. Despite this, he continues to maintain his Bitcoin holdings, using cold wallets in what he described as a “sanctuary mode” approach.
Sun considers Ethereum a more aggressive investment. Over the past year, he has reduced his positions in this asset class by 80–90% when prices ranged between $3,600 and $4,000, retaining a 20% baseline position for monitoring purposes without any plans for re-purchasing. Proceeds from these sales have largely been reallocated to U.S. equities.
