New Wave of Bitcoin ETFs Acquire 264,232 BTC Worth $13.5B in Just 5 Weeks, Blackrock's IBIT Leads Charge

In the last 37 days, the newly introduced nine spot bitcoin exchange-traded funds (ETFs) have rapidly accumulated a remarkable total of 264,232.74 bitcoin, now valued at $13.5 billion based on the current exchange rates. Leading the pack, Blackrock’s IBIT ETF holds a substantial 43% of this total, with 115,989.80 bitcoins in its coffers.

$13.5B in Bitcoin Secured by Nine New ETFs, Grayscale’s GBTC Offloads $8.26B

Over a span of just over five weeks, these spot bitcoin ETFs have significantly increased their holdings in the leading cryptocurrency, bitcoin ($BTC). Since Jan. 11, these nine ETFs have collectively amassed about 264,232.74 $BTC, with a current market value of over $13.5 billion. Among them, Blackrock‘s IBIT stands out as the preeminent bitcoin repository (excluding Grayscale’s GBTC) among the newly unveiled spot bitcoin ETFs, securing a dominant 43.89% share with its 115,989.80 $BTC stash.

Fidelity’s FBTC fund stands out as a significant bitcoin repository, securing 31.76% of the total with its impressive stash of 83,928.16 $BTC. Blackrock’s trove currently boasts a value of $5.95 billion, whereas Fidelity’s hoard is estimated at $4.3 billion. Ark Invest’s ARKB portfolio now includes 26,640 $BTC, a cache worth $1.3 billion as of Feb. 17, 2024. Notably, Bitwise ranks fourth in terms of holdings and has transitioned its $BTC address from a legacy format to Segwit-compatible accounts.

As of this writing on Saturday at 9:00 a.m. EDT, Bitwise’s BITB possesses 22,518 $BTC, valued at $1.1 billion. The Invesco Galaxy fund BTCO is the custodian of 6,059 $BTC, Vaneck’s HODL fund manages 3,620.53 $BTC, and Valkyrie’s BRRR fund oversees 3,083.25 $BTC. At the bottom of the list, Franklin Templeton’s EZBC and Wisdomtree’s BTCW account for 1,885 $BTC and 509 $BTC, respectively. While these nine ETFs have collectively amassed over 264K $BTC in the past five weeks, GBTC has reduced its holdings by approximately 161,046.16 $BTC since Jan. 12, 2024.

Historical records reveal that Grayscale’s GBTC possessed around 617,079.99 $BTC on that date, with its assets dwindling to 456,033.83 $BTC by Saturday, Feb. 17, 2024. This decline signifies that the influx from the nine new ETFs has significantly compensated for GBTC’s sales, with the 161K $BTC shed by GBTC since then now valued at $8.26 billion, according to current exchange rates.

What do you think about the assets held by the newly introduced spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.