Bitcoin Holdings Soar As Blackrock And Fidelity Lead The Financial Charge
As of January 19, 2024, recent data shows that Blackrock, a global asset management giant with over nine trillion in assets under management (AUM), has increased its bitcoin holdings to 33,430.56 BTC, valued at approximately $1.34 billion.
This marks a rise of 4,808.56 BTC since their previous disclosure and establishes Blackrock’s Ishares IBIT spot bitcoin ETF as the second-largest in reserves, trailing only Grayscale’s GBTC. Concurrently, Fidelity’s FBTC has also expanded its bitcoin holdings, now owning 30,169.54 BTC, equivalent to around $1.26 billion. Both IBIT and FBTC ETFs impose a 0.25% management fee, with Blackrock offering an introductory fee of 0.12% for the first six months, while Fidelity’s ETF has a promotional offer of zero fees until July 31, 2024.
Other ETFs, such as Bitwise’s BITB and Valkyrie’s BRRR, experienced modest increases, with BITB enticing investors with zero fees for the first six months and BRRR waiving fees for three months. Franklin Templeton’s EZBC fund also reported growth in bitcoin holdings, reaching 1,160 BTC by January 21, 2024. Despite these increases, none of the new spot bitcoin ETFs have matched the reserve levels held by Blackrock and Fidelity.
Clever Robot News Desk 23rd January 2024
