The nine recently launched spot bitcoin exchange-traded funds (ETFs) have amassed an astounding 264,232.74 bitcoin in just 37 days, which, at current exchange rates, is worth $13.5 billion. With 115,989.80 bitcoins in its holdings, Blackrock’s IBIT ETF leads the field and possesses a sizable 43% of the total.
Nine New ETFs Secure $13.5B in Bitcoin, Grayscale’s GBTC Offloads $8.26B
These spot bitcoin ETFs have substantially expanded their holdings in the most popular cryptocurrencycurrency, bitcoin (BTC), in less than five weeks. These nine ETFs have accumulated a total of about 264,232.74 BTC since January 11 and have a market value of more than $13.5 billion as of right now. With the exception of Grayscale’s GBTC, Blackrock’s IBIT is the most prominent bitcoin repository among the recently released spot bitcoin ETFs, holding a commanding 43.89% of the market with a stockpile of 115,989.80 BTC.
With an amazing holding of 83,928.16 BTC, Fidelity’s FBTC fund stands out as a noteworthy bitcoin repository, accounting for 31.76% of the total. As of right now, Blackrock’s treasure trove is valued at $5.95 billion, while Fidelity’s hoard is valued at $4.3 billion. As of February 17, 2024, Ark Invest’s ARKB portfolio had 26,640 BTC, or a cache value of $1.3 billion. Notably, Bitwise has moved from a legacy BTC address to an account that is compliant with Segwit, and it currently holds the fourth-most amount of BTC.
At 9:00 a.m. EDT on Saturday, Bitwise’s BITB has 22,518 BTC, which is worth $1.1 billion, as of this writing. 6,059 Bitcoin are held in the care of the Invesco Galaxy fund BTCO, 3,620.53 Bitcoin are managed by Vaneck’s HODL fund, and 3,083.25 Bitcoin are under the management of Valkyrie’s BRRR fund. EZBC, owned by Franklin Templeton, and BTCW, owned by Wisdomtree, are at the bottom of the list with 1,885 and 509 BTC, respectively. GBTC has decreased its holdings by roughly 161,046.16 BTC since January 12, 2024, despite the fact that these nine ETFs have combined to accumulate almost 264K BTC in the last five weeks.
According to historical records, Grayscale’s GBTC had about 617,079.99 BTC on that date. By Saturday, February 17, 2024, its assets had decreased to 456,033.83 BTC. This decrease shows that the nine new ETF inflows have more than offset GBTC’s sales; based on current exchange rates, the 161K BTC that GBTC has shed since then is now worth $8.26 billion.
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