9 Newly Launched Bitcoin ETFs Amass 132,170 BTC With Blackrock and Fidelity Commanding 70% of Total

HAzK...1LLh

29 Jan 2024

9 Newly Launched Bitcoin ETFs Amass 132,170 BTC With Blackrock and Fidelity Commanding 70% of Total Holdings

At 10:30 a.m. Eastern Time (ET) on Friday, Grayscale’s GBTC reported a decrease of 10,871.56 bitcoin from its holdings compared to Thursday. In contrast, since its inception on Jan. 11, 2024, Blackrock’s IBIT has accumulated a total of 49,952.32 bitcoin worth $1.98 billion.

Grayscale’s GBTC Sees Significant Bitcoin Outflow as Blackrock’s IBIT and Other ETFs Gain Momentum

In the last 24 hours, GBTC has seen another significant outflow of bitcoin, with a tranched of 10,871.56 bitcoin, valued at $449 million, departing from its reserves. As of Thursday, Grayscale’s bitcoin trust held a total of 523,516.43 BTC, but as of today, this amount has decreased to 512,644.87 BTC. This signifies that a substantial sum of 104,435.12 BTC, amounting to $4.3 billion, has been withdrawn from Grayscale’s trust since Jan. 12, 2024.
Blackrock has experienced yet another boost, with its holdings now reaching 49,952.32 BTC, valued at $1.98 billion. Since Thursday, Blackrock’s IBIT has seen an increase of 4,284.24 BTC. According to a recent report from Fidelity, its spot bitcoin exchange-traded fund (ETF) FBTC currently possesses 43,855.14 BTC, worth $1.74 billion. The Ark Invest 21shares ETF’s holdings amount to 13,285 BTC, valued at $549 million, while Bitwise’s BITB now boasts a balance of 12,840.05 BTC.
Vaneck’s HODL ETF maintains its previous count of 2,772.33 BTC as of the latest update. Similarly, Franklin Templeton’s EZBC bitcoin reserve remains at 1,334 BTC, and Invesco’s figure also stays constant at 6,339 BTC, as estimated from BTCO’s assets under management (AUM). Valkyrie’s BRRR ETF has shown an uptick since Thursday, now holding 2,592.75 BTC. Wisdomtree’s BTCW ETF continues to hold 201 BTC, indicating no change in its holdings since yesterday.

This trend indicates that while GBTC saw an exodus of 104,435.12 BTC, valued at $4.3 billion, the nine newly launched spot bitcoin ETFs have collectively acquired 132,170.59 BTC since they began trading. At current exchange rates, these nine ETFs hold a combined value of $5.46 billion. Blackrock and Fidelity together represent a significant 70.97% of the nine ETFs’ collective holdings. Furthermore, the total assets of these nine ETFs amount to 25.78% of the size of Grayscale’s GBTC holdings as of Friday.
What do you think about the latest GBTC outflow and the accumulation from other ETFs? Share your thoughts and opinions about this subject in the comments section below.

TAGS IN THIS STORY

Bitcoin (BTC), bitcoin etf, Bitwise, Blackrock, Crypto, Cryptocurrency, fidelity, Franklin Templeton, spot bitcoin ETFs, vaneck

Join our Bitcoin.com community

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 8,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Latam Insights: Argentina's Milei States Dollarization Is Close, Bitfarms Expands In Paraguay

NEWS | 6 hours ago

Congressman Rand Paul Reintroduces 'Audit the Fed' Bill

NEWS | 7 hours ago
Image Credits: Shutterstock, Pixabay, Wiki Commons

US Government to Sell $116 Million in Bitcoin Seized From Darknet Dealer 'Xanaxman'

Amid Rising 'National Divorce' Talks, Exploring the Potential Impact on US Dollar in Hypothetical Second Civil War

COMMENT

Sell crypto

I want to buy
Bitcoin(BTC)

How much?
BDT

GET QUOTE
Automatically select best provider

Bitcoin.com in your inbox

Get the newsletter directly to your inbox

Sign up

In Case You Missed It

FDUSD Market Cap Skyrockets by $1 Billion in 2024, Clinching Top 4 Stablecoin Spot
According to statistics, the stablecoin crypto asset FDUSD has seen its market capitalization grow by $1 billion since the start of the year. Presently, the supply stands at 2.614 billion FDUSD after witnessing a 45.7% supply increase in 30 days.… read more.