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According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 $BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply.
Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New Bitcoin ETFs With 276,190 Bitcoin
Since Jan. 12, 2024, the new spot bitcoin ETFs have amassed a notable amount of bitcoin. These ten funds have gathered 548,556.62 $BTC, valued at $36.71 billion. Additionally, Grayscale’s GBTC transitioned from being exclusively over-the-counter (OTC) to a publicly traded fund, currently holding 288,954.39 $BTC. Collectively, the 11 funds – GBTC, IBIT, FBTC, ARKB, BITB, HODL, BRRR, BTCO, BTCW, and DEFI – secure a total of 837,511.01 $BTC.
These 11 spot bitcoin ETFs collectively represent $56.05 billion and 4.25% of the current circulating supply of 19.7 million $BTC. Excluding GBTC, Blackrock’s IBIT leads with 276,190.03 $BTC, followed by Fidelity’s FBTC, which holds 156,772.30 $BTC. As of May 19, 2024, Ark Invest’s and 21share’s ARKB have an aggregate of 47,230 $BTC, and Bitwise’s BITB holds 35,749.04 $BTC. Vaneck’s HODL is the fifth largest holder, excluding GBTC, with 9,587.63 $BTC.
Valkyrie’s BRRR fund holds 8,561.29 $BTC, while the Invesco Galaxy fund, BTCO, has 6,977 $BTC. Franklin Templeton’s EZBC follows with 6,148 $BTC, and Wisdomtree’s BTCW controls about 1,163.02 $BTC. The Hashdex spot bitcoin ETF, DEFI, holds the least amount at 178.3 $BTC. Beyond the U.S. spot bitcoin ETFs, the three spot $BTC ETFs from Hong Kong have collectively acquired 4,063.6 $BTC, with China AMC holding 1,950 $BTC, Bosera Hashkey fund 1,119 $BTC, and Hong Kong’s Harvest spot bitcoin ETF securing 994.6 $BTC.
What do you think about the ten U.S. spot bitcoin ETFs absorbing more than $36 billion worth of bitcoin off the market? Share your thoughts and opinions about this subject in the comments section below.