Bitcoin ETFs Amass Over 264,000 BTC in 5 Weeks
Date: 2024-02-18 Author: Dima Zakharov Categories: BLOCKCHAIN
Bitcoin ETFs Bolster Holdings
In a significant development within the cryptocurrency sphere, Bitcoin exchange-traded funds (ETFs) have substantially increased their holdings in the leading cryptocurrency, Bitcoin (BTC). Since January 11, a total of nine ETFs have amassed 264,232.74 BTC, with their current market value exceeding $13.5 billion.
Leaders in BTC Reserves
Among these ETFs, IBIT of Blackrock stands out as the leading repository of Bitcoins (excluding GBTC Grayscale), commanding a dominant share of 43.89% with reserves totaling 115,989.80 BTC. Fidelity's FBTC Fund also emerges as a major Bitcoin custodian, holding 31.76% of the total volume, equivalent to an impressive 83,928.16 BTC.
Asset Evaluation
Blackrock's holdings are valued at $5.95 billion, while Fidelity's treasures amount to $4.3 billion. ARKB Ark Invest holds 26,640 BTC valued at $1.3 billion as of February 17, 2024. Bitwise ranks fourth in terms of both quantity and asset value, with 22,518 BTC worth $1.1 billion.
Other Players in the Market
Invesco Galaxy BTCO Fund holds 6059 BTC, HODL Vaneck manages 3620.53 BTC, and BRRR Valkyrie Fund controls 3083.25 BTC. EZBC Franklin Templeton and BTCW Wisdomtree are at the bottom of the list with 1885 BTC and 509 BTC, respectively.
Contrasting Trends
While the combined ETFs accumulated over 264,000 BTC in the past five weeks, GBTC has reduced its assets by approximately 161,046.16 BTC to 456,033.83 BTC since January 12, 2024.
