Nine Newly Launched Bitcoin ETFs Collectively Added 132,170 BTC
The nine newly launched spot Bitcoin ETFs have collectively added 132,170.59 Bitcoin. Blackrock’s IBIT holding increased to a total of 49,952.32 Bitcoin worth USD 1.98 billion, while Grayscale’s GBTC reported a decline of 10,871.56 Bitcoin from its holdings on Friday morning.
Grayscale’s GBTC Bitcoin Outflow Valued at USD 449 Million
GBTC has witnessed another significant outflow of 10,871.56 bitcoin, valued at USD 449 million, from its reserves during the last 24 hours. Grayscale’s Bitcoin trust held a total of 523,516.43 BTC on Thursday, which has declined to 512,644.87 BTC today. Therefore, a substantial amount of 104,435.12 BTC, valued at USD 4.3 billion, seems to have been withdrawn from Grayscale’s trust since January 12, 2024.
Blackrock IBIT holdings have increased with another boost of 4,284 BTC since Thursday. The total reserves now stand at 49,952.32 BTC, valued at USD 1.98 billion. The Fidelity spot bitcoin exchange-traded fund (ETF), FBTC, currently holds 43,855.14 BTC, valued at USD 1.74 billion, according to the reports. The Ark Invest 21shares ETFs hold 13,285 BTC, valued at USD 549 million, while Bitwise’s BITB now holds a balance of 12,840.05 BTC.
Vaneck’s HODL ETF maintains its previous holding of 2,772.33 BTC. Franklin Templeton’s EZBC Bitcoin reserve remains at 1,334 BTC, and Invesco’s holding stays 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 has continued to hold 201 BTC without change in its holdings since Thursday.
Blackrock and Fidelity Command 70.97% of Total Holdings
The trend shows an exodus of 104,435.12 BTC from GBTC, valued at USD 4.3 billion. But the nine newly launched spot Bitcoin ETFs have collectively added 132,170.59 BTC since they began trading. The nine ETFs hold a collective value of USD 5.46 billion at current exchange rates. Blackrock and Fidelity together hold a significant 70.97% of the nine collective ETF holdings. The total assets of the nine ETFs amount to 25.78% of the size of Grayscale’s GBTC holdings as of Friday.
What is your take on the latest GBTC outflow and the acquisition from other ETFs? Please share your thoughts and opinions in the comments section below.
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