Bitcoin ETFs’ Collective Acquisition of $288 Million in Assets
Since the conclusion of the spot bitcoin exchange-traded fund (ETF) trading sessions on Feb. 9, 2024, the nine newly launched ETFs, including BRRR, BTCW, HODL, ARKB, EZBC, IBIT, FBTC, BITB, and BTCO, have collectively acquired 6,009.49 bitcoin, valued at approximately $288 million.
Blackrock’s IBIT and Fidelity’s FBTC lead with a combined share of 157,213.48 BTC, constituting 75.26% of the total. Specifically, IBIT holds 87,779.82 BTC, worth $4.15 billion, and FBTC controls 69,433.66 BTC, valued at $3.15 billion. Grayscale’s Bitcoin Trust (GBTC) has experienced a net outflow of 2,252.2 BTC since Feb. 9, reducing its total holdings to 466,534.79 BTC, marking a shift as the new ETFs now represent 44.77% of GBTC’s managed assets.
These developments highlight a dynamic shift in the landscape of bitcoin investments, with the new ETFs rapidly accumulating substantial assets. The strategic dominance of IBIT and FBTC among the new ETFs underscores the competition and consolidation within the market, while the decrease in GBTC holdings signifies a redistribution of assets as investors explore alternative avenues for exposure to bitcoin. The evolving dynamics in the ETF space contribute to the growing diversification and accessibility of bitcoin investments for institutional and retail investors alike.
Clever Robot News Desk 13th February 2024
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