The debut of nine bitcoin exchange-traded funds (ETFs) on the American stock market has seen rapid expansion in the bitcoin ETF landscape, with a total of 287,315 bitcoins worth around $14.6 billion accumulated in just 43 days, led by Blackrock's IBIT fund who owns 126,950 bitcoins.
It has been 43 days since the debut of spot bitcoin exchange-traded funds (ETFs) on the American stock market, and currently, nine newly launched bitcoin ETFs have accumulated 287,315 bitcoins, worth about $14.6 billion.
Bitcoin ETF Landscape Expands Rapidly, 9 Mutual Funds Accumulate 287,315 Bitcoins
Since being approved for trading on January 11, 2024, nine spot BTC ETFs have significantly increased their BTC holdings. On February 23, Blackrock's IBIT fund reportedly held $6.46 billion worth of BTC, equivalent to 126,950.12 bitcoins at the current exchange rate.
This impressive amount represents 44.18% of the total assets held across all nine ETFs. Following closely behind is the Fidelity Bitcoin ETF, FBTC, with a sizable sum of 91,645.44 bitcoins, which is now worth $4.66 billion.
FBTC holdings are also noteworthy, reaching 31.89% of the collective 287K BTC. Third place went to Ark Invest's ARKB fund, with 30,205 bitcoins worth $1.53 billion.
Even though it is smaller compared to IBIT or FBTC, ARKB's share is quite significant, namely 10.51%. Bitwise's BITB, which holds 22,883 BTC, is next among the largest spot bitcoin ETFs by holdings, followed by Invesco's BTCO with 6,103 BTC.
Additionally, Vaneck's HODL holds 3,790.07 bitcoins, while Valkyrie's BRRR fund protects 3,105.93 BTC. Smaller entities among spot BTC ETFs include Franklin Templeton's EZBC, which holds 1,943 BTC, and Wisdomtree's BTCW, which had 690 BTC in its coffers at press time.
Grayscale Bitcoin Trust, also known as GBTC, now holds less bitcoin than reported in Bitcoin.com News' latest analysis of BTC reserves held by U.S. BTC spot ETFs. Currently, GBTC holdings stand at 446,476.36 bitcoins, worth $22.72 billion.
This marks a decline of approximately 170,603.63 bitcoins since January 12, 2024, equivalent to a decline in value of approximately $8.68 billion over 43 days. Even so, GBTC has the largest bitcoin reserves of any spot ETF in the U.S. market. At the moment.
What do you think about the newly introduced spot bitcoin ETF and the bitcoins gained over the last 43 days? Let us know your thoughts on this topic in the comments section below.
