The nine recently formed exchange-traded funds (ETFs) have acquired 6,009.49 bitcoin, or over $288 million, since the end of the spot bitcoin ETF trading sessions on February 9, 2024. Grayscale’s Bitcoin Trust (GBTC), which developed into an exchange-traded vehicle that is publicly traded, has concurrently sold out roughly 2,252.2 bitcoin, or nearly $108 million.
As GBTC sells off $108 million in bitcoin since Friday, new Bitcoin ETFs amass $288 million in assets.
The nine recently released spot Bitcoin ETFs (BRRR, BTCW, HODL, ARKB, EZBC, IBIT, FBTC, BITB, and BTCO) are still accumulating bitcoin (BTC). As of Friday, the nine ETFs have accumulated a total of 6,009.49 BTC, valued at $288 million, based on the most recent data available on their holdings. Now, these nine ETFs hold 208,878.1 BTC between them, which is slightly more than $10 billion.
Overshadowing Grayscale’s sell-off, nine Bitcoin ETFs amass 208,878 BTC, valued at $10 billion.
In terms of reserves held in bitcoin (BTC) as of February 9, 2024, the nine new ETFs compare favorably to GBTC.
A significant portion of this amount is held by Fidelity’s FBTC and Blackrock’s IBIT.
With 157,213.48 BTC, or 75.26% of the total, Blackrock’s IBIT and Fidelity’s FBTC command a dominant portion of the total. In particular, FBTC holds 69,433.66 BTC, which is estimated to be worth $3.15 billion, while IBIT has 87,779.82 BTC, valued at $4.15 billion. The ARKB spot bitcoin ETF from Ark Invest presently has 18,590 BTC, or roughly $893 million, as of February 9, 2024.
Bitwise’s Bitwise BTCO ETF has 7,568 BTC in its portfolio, worth around $363 million, and Bitwise’s BITB is in charge of 17,398.13 BTC, valued at $835 million. With a market value of nearly $160 million, Vaneck’s HODL ETF is holding 3,337.79 BTC, and Valkyrie’s BRRR ETF has 2,748.70 BTC, valued at $132 million. Currently holding 398 BTC with an estimated market value of around $19.12 million, is Wisdomtree’s BTCW, and Franklin Templeton’s EZBC has 1,624 BTC in reserve, valued at $78 million.
There has been a net outflow of 2,252.2 BTC from Grayscale’s GBTC since February 9. Approximately 468,786.99 BTC were held by GBTC at the time; these have now dropped t 466,534.79 BTC. The nine new ETFs’ holdings now account for 44.77% of the total assets handled by the GBTC trust, according to this announcement. 150,545.2 BTC, or $7.25, have been removed from GBTC’s funds since January 12, 2024.
Regarding the assets that the spot bitcoin ETFs hold, what are your thoughts? Please feel free to discuss this topic in the comments area below.