March 27, 2024
Newcomer Bitcoin ETFs Amass Over $30B Worth of BTC, Outpacing Grayscale Trust
Bitcoin ETF

Newcomer Bitcoin ETFs Amass Over $30B Worth of BTC, Outpacing Grayscale Trust

Since their inception on Jan. 11, 2024, these nine spot bitcoin ETFs have rapidly accumulated a significant amount of bitcoin (BTC), with projections indicating they will soon surpass the half-million mark. As of March 17, 2024, their collective holdings amount to 453,503.98 BTC, valued at $30.29 billion.

Blackrock’s IBIT Leads the Pack

Blackrock’s IBIT leads the pack, with a massive holding of 228,612.98 BTC, valued at $15.27 billion, representing 50.41% of the total 453,503.98 BTC held.

Trailing behind Blackrock, Fidelity’s FBTC fund now secures 132,571.08 BTC, worth approximately $8.85 billion. FBTC’s reserves comprise 29.23% of the total bitcoin reserves among the nine ETFs.

Ark Invest’s ARKB currently possesses 39,789 BTC, with a market value of $2.65 billion, while Bitwise’s BITB has 29,267 BTC, estimated to be worth around $1.95 billion.

Vaneck and Valkyrie Surpass Invesco

Recent developments have seen Vaneck’s and Valkyrie’s holdings surpass those of Invesco’s. Vaneck’s HODL is 7,438.19 BTC, and Valkyrie’s BRRR stands at 6,343.69 BTC.

In contrast, Invesco’s BTCO fund holds 5,098 BTC, valued at just over $340 million, and Franklin Templeton’s EZBC fund owns 3,306 BTC. Wisdomtree’s BTCW fund is at 1,078.04 BTC as of the latest figures.

Surpassing Grayscale’s Bitcoin Trust

These combined reserves now exceed those of Grayscale’s Bitcoin Trust (GBTC), which holds 380,240.68 BTC, worth $25.4 billion, marking a notable decrease following its transition to a spot BTC ETF.

From Jan. 12, 2024, when GBTC held 617,079.99 BTC, it has seen a reduction of 236,839.31 BTC over 65 days, a devaluation of about $15.82 billion. While GBTC remains the largest BTC ETF in terms of reserves, IBIT is rapidly gaining ground, with its reserves now surpassing 60% of GBTC’s holdings.


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