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In the span of just six days, the nine freshly launched spot bitcoin exchange-traded funds (ETFs) have gathered 20,859.57 bitcoins, valued at over $1.3 billion. Holding 474,363.55 bitcoins worth $30.6 billion, these new ETFs are short of 25,636.45 coins to hit the 500,000 milestone.
Excluding GBTC, Fidelity’s FBTC and Blackrock’s IBIT Dominate Bitcoin ETFs In Terms of Reserves Held
Since their debut on Jan. 11, 2024, the new spot bitcoin ETFs, excluding GBTC, have significantly increased their bitcoin holdings. Among the nine U.S. funds, Blackrock’s IBIT leads with a hefty reserve of 242,829.94 BTC, valued at $15.6 billion according to the current BTC exchange rates.
This reserve makes IBIT the giant among its peers, accounting for 51.19% of the combined 474,363.55 BTC held by the nine. Following closely, Fidelity’s FBTC holds 135,741.06 BTC worth $8.7 billion as of March 23, 2024. This makes up 28.61% of the total bitcoin stash owned by the nine ETFs.
Together, IBIT and FBTC dominate, holding 79.8% of the collective total. Ark Invest’s ARKB and Bitwise’s BITB own 40,213 BTC and 30,292.21 BTC, respectively. Vaneck’s HODL ranks fifth, with a holding of 8,116.94 BTC valued at $524.6 million as of the morning of March 23.
The sixth place is claimed by Valkyrie’s BRRR, holding 6,930.57 BTC, followed by Invesco’s BTCO with 4,996 BTC, Franklin Templeton’s EZBC with approximately 4,118 BTC, and lastly, Wisdomtree’s BTCW with 1,125.84 BTC. With the inclusion of GBTC, seven out of the nine opt for Coinbase Custody for bitcoin storage.
Meanwhile, Fidelity independently custodies FBTC’s holdings, Vaneck utilizes Gemini, and Valkyrie opts for Bitgo, keeping Coinbase as an alternative custodian. The collective stash of 474,363.55 BTC by the nine spot bitcoin ETFs represents 2.25% of Bitcoin’s maximum supply of 20,999,999.97 BTC.
When GBTC is considered alongside the nine, the total rises to 824,615.55 BTC, approximately 3.92% of Bitcoin’s cap. At the current rate of acquisition, the nine newly launched spot bitcoin ETFs could reach the 500,000 BTC milestone during next week’s trading sessions.
What do you think about the bitcoin the nine new ETFs accumulated since Jan. 11, 2024? Share your thoughts and opinions about this subject in the comments section below.