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Spot Bitcoin ETFs Surge to $14.6 Billion in BTC Holdings 43 Days Post-Launch

source-logo  news.bitcoin.com 24 February 2024 08:00, UTC

It has been 43 days since the debut of the spot bitcoin exchange-traded funds (ETFs) on the American stock market, and in this time, the nine newly launched bitcoin ETFs have accumulated 287,315 bitcoins, valued at approximately $14.6 billion. Leading the pack is Blackrock’s IBIT, boasting a staggering 126,950.12 bitcoins on its balance sheet.

Bitcoin ETF Landscape Expands Rapidly, 9 Funds Accumulate 287,315 Bitcoin

Since their approval for trading on Jan. 11, 2024, the nine spot BTC ETFs have significantly increased their BTC holdings. As of Feb. 23, Blackrock’s IBIT fund is reported to hold BTC worth $6.46 billion, translating to 126,950.12 bitcoins at current exchange rates.

This impressive sum represents 44.18% of the total assets held across all nine ETFs. Following closely is the Fidelity Bitcoin ETF, FBTC, with a hefty sum of 91,645.44 bitcoins, now worth $4.66 billion.

FBTC’s holdings are also noteworthy, making up 31.89% of the collective 287K BTC. The third spot is occupied by Ark Invest’s ARKB fund, with 30,205 bitcoins valued at $1.53 billion.

Though smaller in comparison to IBIT or FBTC, ARKB’s share is significant at 10.51%. Bitwise’s BITB, holding 22,883 BTC, ranks next among the largest spot bitcoin ETFs by holdings, followed by Invesco’s BTCO with 6,103 BTC.

Also, Vaneck’s HODL possesses 3,790.07 bitcoins, while Valkyrie’s BRRR fund safeguards 3,105.93 BTC. The smaller entities among the spot BTC ETFs include Franklin Templeton’s EZBC, holding 1,943 BTC, and Wisdomtree’s BTCW, which has 690 BTC in its coffers at press time.

The Grayscale Bitcoin Trust, also known as GBTC, now has fewer bitcoins than reported in Bitcoin.com News’ last analysis of BTC reserves held by U.S. spot BTC ETFs. Currently, GBTC’s holdings are at 446,476.36 bitcoins, valued at $22.72 billion.

This marks a decrease of about 170,603.63 bitcoins since Jan. 12, 2024, equating to a reduction in value of approximately $8.68 billion over 43 days. Still, GBTC holds the largest bitcoin reserves out of all the spot ETFs on the U.S. market today.

What do you think about the newly introduced spot bitcoin ETFs and the bitcoin obtained over the past 43 days? Let us know what you think about this subject in the comments section below.