9 Newly Launched Spot Bitcoin ETFs Collect Over 81,000 BTC, Valued at $3.39 Billion
As of January 12, 2024, GBTC, Grayscale’s newly converted spot Bitcoin exchange-traded fund (ETF), has experienced a withdrawal of 50,106.59 Bitcoin. Meanwhile, nine newly launched spot Bitcoin ETFs have accumulated a total of 81,366 Bitcoins, worth about $3.39 billion.
Grayscale, Blackrock, and Fidelity dominate ETF holdings, with more than 95% stored on Coinbase.
Recent data shows that nine recently launched spot Bitcoin ETFs have accumulated significant amounts of Bitcoin since launch. GBTC is the leading Bitcoin custodian with 566,973.40 BTC valued at approximately $23.5 billion. This figure comes after 50,106.59 BTC was withdrawn from GBTC holdings since January 12th. The second-highest Bitcoin balance among US-based spot Bitcoin ETFs belongs to Blackrock’s IBIT, which held 28,622 BTC, worth about $1.19 billion, as of Sunday. Transaction Value.
Fidelity’s Wise Origin ETF (FBTC) holds the second-largest Bitcoin holder spot, with approximately 24,857 BTC worth just over $1 billion. The combined Bitcoin holdings of Blackrock and Fidelity total 53,479 BTC, representing 65.72% of the total holdings of the nine newly introduced spot Bitcoin ETFs. The Bitwise ETF, known as BITB, currently manages 10,136 BTC, worth just over $422 million, while Ark Invest and 21shares’ ETF holdings stand at 7,565 BTC, worth $315.62 million at current exchange rates.
Invesco Galaxy ETF is the next most important holder, holding 6,143 BTC worth $256 million. Vanek’s ETF holds 2,150 BTC, Valkyrie’s ETF holds 1,712 BTC, and Franklin Templeton’s ETF holds 1,160 BTC. The smallest collection belongs to the Wisdomtree Spot Bitcoin ETF, holding 111 BTC worth $4.62 million. Combining GBTC with the other nine ETFs, the total holdings of U.S. spot Bitcoin exchange-traded funds are just over 648,339 BTC, estimated at approximately $27 billion based on exchange rates as of 8:00 AM on January 21, 2024. . It’s morning Eastern time.
This indicates that GBTC accounts for 87.45% of the total, and the remaining 9 ETFs account for 12.55% of the total 648,339 BTC. Additionally, 8 out of 10 U.S. spot Bitcoin ETFs have deposited their assets with Coinbase for safekeeping. Fidelity, on the other hand, secures its holdings through its own custody service, and Vaneck chose Gemini to store its ETF-related BTC. As a result, 621,332 BTC, or 95.83% of the total held by all 10 funds, is protected by Coinbase Custody. Meanwhile, Fidelity is responsible for 24,857 BTC and Gemini oversees 2,150 BTC.
What do you think about the 9 newly launched spot Bitcoin ETFs that have amassed 81,366 Bitcoin since January 12th? Let us know what you think about this topic in the comments section below.
