9 Newly Launched Bitcoin ETFs Amass 132,170 BTC With Blackrock and Fidelity Commanding 70% of Total Holdings

At 10:30 a.m. Eastern Time (ET) connected Friday, Grayscale’s GBTC reported a alteration of 10,871.56 bitcoin from its holdings compared to Thursday. In contrast, since its inception connected Jan. 11, 2024, Blackrock’s IBIT has accumulated a full of 49,952.32 bitcoin worthy $1.98 billion.

Grayscale’s GBTC Sees Significant Bitcoin Outflow arsenic Blackrock’s IBIT and Other ETFs Gain Momentum

In the past 24 hours, GBTC has seen different important outflow of bitcoin, with a tranched of 10,871.56 bitcoin, valued astatine $449 million, departing from its reserves. As of Thursday, Grayscale’s bitcoin spot held a full of 523,516.43 BTC, but arsenic of today, this magnitude has decreased to 512,644.87 BTC. This signifies that a important sum of 104,435.12 BTC, amounting to $4.3 billion, has been withdrawn from Grayscale’s spot since Jan. 12, 2024.

Blackrock has experienced yet different boost, with its holdings present reaching 49,952.32 BTC, valued astatine $1.98 billion. Since Thursday, Blackrock’s IBIT has seen an summation of 4,284.24 BTC. According to a caller study from Fidelity, its spot bitcoin exchange-traded money (ETF) FBTC presently possesses 43,855.14 BTC, worthy $1.74 billion. The Ark Invest 21shares ETF’s holdings magnitude to 13,285 BTC, valued astatine $549 million, portion Bitwise’s BITB present boasts a equilibrium of 12,840.05 BTC.

Vaneck’s HODL ETF maintains its erstwhile number of 2,772.33 BTC arsenic of the latest update. Similarly, Franklin Templeton’s EZBC bitcoin reserve remains astatine 1,334 BTC, and Invesco’s fig besides stays changeless astatine 6,339 BTC, arsenic estimated from BTCO’s assets nether management (AUM). Valkyrie’s BRRR ETF has shown an uptick since Thursday, present holding 2,592.75 BTC. Wisdomtree’s BTCW ETF continues to clasp 201 BTC, indicating nary alteration successful its holdings since yesterday.

This inclination indicates that portion GBTC saw an exodus of 104,435.12 BTC, valued astatine $4.3 billion, the 9 recently launched spot bitcoin ETFs person collectively acquired 132,170.59 BTC since they began trading. At existent speech rates, these 9 ETFs clasp a combined worth of $5.46 billion. Blackrock and Fidelity unneurotic correspond a important 70.97% of the 9 ETFs’ corporate holdings. Furthermore, the full assets of these 9 ETFs magnitude to 25.78% of the size of Grayscale’s GBTC holdings arsenic of Friday.

What bash you deliberation astir the latest GBTC outflow and the accumulation from different ETFs? Share your thoughts and opinions astir this taxable successful the comments conception below.