Since Jan. 12, 2024, Grayscale’s newly transitioned spot bitcoin exchange-traded fund (ETF), GBTC, experienced a withdrawal of 50,106.59 bitcoin. Meanwhile, the nine newly launched spot bitcoin ETFs have collectively accumulated 81,366 bitcoin, valued at approximately $3.39 billion.
Grayscale, Blackrock, and Fidelity Dominate ETF Holdings— More Than 95% Is Stored on Coinbase
Recent data reveals that the nine spot bitcoin ETFs launched recently have amassed a substantial quantity of bitcoin since their market debut. GBTC remains the top bitcoin custodian with 566,973.40 BTC, valued at an estimated $23.5 billion. This figure comes after a withdrawal of 50,106.59 BTC from GBTC’s holdings since Jan. 12. The second-highest bitcoin balance in a U.S.-based spot bitcoin ETF belongs to Blackrock’s IBIT, which possesses 28,622 BTC, equivalent to roughly $1.19 billion, based on Sunday’s trading values.
Fidelity’s Wise Origin ETF (FBTC) holds the position of the second-largest bitcoin holder, with approximately 24,857 BTC valued just above $1 billion. Combined, Blackrock and Fidelity’s bitcoin reserves total 53,479 BTC, accounting for 65.72% of the total held by all nine newly introduced spot bitcoin ETFs. The Bitwise ETF, known as BITB, now controls 10,136 BTC, valued at just over $422 million, while the holdings of Ark Invest’s and 21shares’ ETF amount to 7,565 BTC, worth $315.62 million at current exchange rates.
The Invesco Galaxy ETF ranks as the next most significant holder, possessing 6,143 BTC with a value of $256 million. Vaneck’s ETF has a holding of 2,150 BTC, followed by Valkyrie’s ETF with 1,712 BTC, and Franklin Templeton’s ETF, which includes 1,160 BTC. The smallest collection belongs to the Wisdomtree spot bitcoin ETF, maintaining 111 BTC valued at $4.62 million. When GBTC is combined with the nine other ETFs, the total held by U.S. spot bitcoin exchange-traded funds amounts to just over 648,339 BTC, estimated at $27 billion, based on the exchange rates as of Jan. 21, 2024, at 8:00 a.m. Eastern Time.
This indicates that GBTC holds a commanding 87.45% of the combined total, while the other nine ETFs collectively account for 12.55% of the 648,339 BTC. Furthermore, eight of the ten U.S. spot bitcoin ETFs have entrusted their assets to Coinbase for safekeeping. Fidelity, on the other hand, secures its holdings through its own custody service, and Vaneck has chosen Gemini for storing its ETF-related BTC. As a result, a substantial 621,332 BTC, or 95.83% of the total held by all ten funds, is under the safeguard of Coinbase Custody. Meanwhile, Fidelity is responsible for 24,857 BTC, and Gemini oversees 2,150 BTC.
What do you think about the nine newly launched spot bitcoin ETFs gathering 81,366 bitcoin since Jan. 12? Let us know what you think about this subject in the comments section below.
