According to recent data, the ten spot bitcoin exchange-traded funds (ETFs), excluding Grayscale’s Bitcoin Trust (GBTC), acquired 548,556.62 BTC from the market over the last 128 days. This acquisition means the ten newly introduced spot bitcoin ETFs collectively hold 2.78% of the crypto asset’s current circulating supply.
Besides Grayscale’s Pre-Existing Fund, Blackrock’s IBIT Leads New Bitcoin ETFs With 276,190 Bitcoin
Since Jan. 12, 2024, the new spot bitcoin ETFs have amassed a notable amount of bitcoin. These ten funds have gathered 548,556.62 BTC, valued at $36.71 billion. Additionally, Grayscale’s GBTC transitioned from being exclusively over-the-counter (OTC) to a publicly traded fund, currently holding 288,954.39 BTC. Collectively, the 11 funds – GBTC, IBIT, FBTC, ARKB, BITB, HODL, BRRR, BTCO, BTCW, and DEFI – secure a total of 837,511.01 BTC.
These 11 spot bitcoin ETFs collectively represent $56.05 billion and 4.25% of the current circulating supply of 19.7 million BTC. Excluding GBTC, Blackrock’s IBIT leads with 276,190.03 BTC, followed by Fidelity’s FBTC, which holds 156,772.30 BTC. As of May 19, 2024, Ark Invest’s and 21share’s ARKB have an aggregate of 47,230 BTC, and Bitwise’s BITB holds 35,749.04 BTC. Vaneck’s HODL is the fifth largest holder, excluding GBTC, with 9,587.63 BTC.
Valkyrie’s BRRR fund holds 8,561.29 BTC, while the Invesco Galaxy fund, BTCO, has 6,977 BTC. Franklin Templeton’s EZBC follows with 6,148 BTC, and Wisdomtree’s BTCW controls about 1,163.02 BTC. The Hashdex spot bitcoin ETF, DEFI, holds the least amount at 178.3 BTC. Beyond the U.S. spot bitcoin ETFs, the three spot BTC ETFs from Hong Kong have collectively acquired 4,063.6 BTC, with China AMC holding 1,950 BTC, Bosera Hashkey fund 1,119 BTC, and Hong Kong’s Harvest spot bitcoin ETF securing 994.6 BTC.
What do you think about the ten U.S. spot bitcoin ETFs absorbing more than $36 billion worth of bitcoin off the market? Share your thoughts and opinions about this subject in the comments section below.
