Blackrock and Fidelity Lead with Reserves of 33,430 BTC Worth $2.6 Billion
Date: 2024-01-23 Author: Dima Zakharov Categories: BUSINESS
Blackrock's Dominance
As of January 19, 2024, data reveals that Blackrock's spot Bitcoin-ETF, Ishares IBIT, has significantly increased its Bitcoin reserves to 33,430.56 BTC. This represents a remarkable surge of 4,808.56 BTC in a short period. The total value of these digital assets as of January 22, 2024, stands at $1.34 billion. Blackrock's IBIT secures its position as the second-largest spot Bitcoin-ETF, trailing only behind Grayscale's GBTC in terms of reserves.
Fidelity's Strong Contender
Following closely behind Blackrock, Fidelity's FBTC ETF is actively accumulating Bitcoin. On January 22, 2024, Fidelity proudly announced its ownership of 30,169.54 Bitcoins, equivalent to $1.26 billion in market value. Both IBIT and FBTC ETFs charge a management fee of 0.25%, with Blackrock offering an introductory fee of 0.12% for the first six months. Fidelity's ETF also presents a promotional offer of zero fees until July 31, 2024, approximately six months from now.
Other Players in the Game
Bitwise's BITB spot Bitcoin-ETF witnessed a modest increase from 10,136 BTC to 10,152 BTC. Valkyrie's BRRR spot Bitcoin-ETF also experienced a slight gain, rising from 1,712 BTC to 1,737.23 BTC. Bitwise attracts investors with zero fees for the initial six months, while BRRR waived fees for three months.
Franklin Templeton's Ascent
Franklin Templeton's EZBC fund reported an increase in its Bitcoin assets, rising from 1,131 BTC on January 14 to 1,160 BTC by January 21, 2024. Despite this growth, none of the new spot Bitcoin-ETFs have yet reached the reserve levels of Blackrock and Fidelity.
The cryptocurrency market continues to evolve, with Blackrock and Fidelity emerging as dominant players in the ETF arena, amassing substantial Bitcoin reserves. Their strategies, including promotional fee offers, make them strong contenders in the crypto investment landscape.
