Blackrock’s IBIT Is Leading the Charge as a New Wave of Bitcoin ETFS Buy 264,232 BTC Worth $13.5B in Just 5 Weeks

Blackrock’s IBIT Is Leading the Charge as a New Wave of Bitcoin ETFS Buy 264,232 BTC Worth $13.5B in Just 5 Weeks

For the past 37 days, nine spot bitcoin exchange-traded funds (ETFs) have quickly amassed an impressive total of 264,232.74 bitcoin, which, according to the most recent exchange rates, is now worth $13.5 billion.

This is an impressive amount of bitcoin. An astounding 43 percent of the total, or 115,989.80 bitcoins, are held by Blackrock’s IBIT ETF, which is the most prominent leader in this regard.

Grayscale’s GBTC Disposes of $8.26 Billion in Bitcoin, Which Nine New Exchange-Traded Funds secure

These particular bitcoin exchange-traded funds (ETFs) have significantly increased their holdings in the foremost cryptocurrency, bitcoin (BTC), throughout a period that is slightly longer than five weeks. Throughout January 11, these nine exchange-traded funds have collectively amassed approximately 264,232.74 BTC, which is currently valued at more than $13.5 billion.

IBIT, which Blackrock owns, is the most prominent Bitcoin repository among the recently introduced spot Bitcoin exchange-traded funds (ETFs). It holds a significant 43.89% share with 115,989.80 BTC.

The FBTC fund offered by Fidelity is a noteworthy bitcoin storage option, as it protects 31.76% of the total amount with its remarkable collection of 83,928.16 BTC. At the moment, the collection of Blackrock is estimated to be worth $5.95 billion, while the collection of Fidelity is estimated to be worth $4.3 billion.

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As of February 17, 2024, the ARKB portfolio of Ark Invest contains 26,640 Bitcoins, which amounts to a value of $1.3 billion. Bitwise has successfully transitioned its Bitcoin address from a conventional format to accounts that are compatible with Segwit, which has allowed it to achieve the position of fourth most significant in terms of holdings.

Top 5 Cryptocurrencies Today:

Name Price24H (%)
Bitcoin (BTC)
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Most Funds Are Looking to Increase the Number of Bitcoins Available

As of this moment, as of Saturday morning at nine o’clock Eastern Daylight Time, Bitwise’s BITB has 22,518 Bitcoins, which is equivalent to $1.1 billion. The Invesco Galaxy fund BTCO is responsible for the custody of 6,059 bitcoins, the HODL fund managed by Vaneck is in charge of 3,620.53 bitcoins, and the BRRR fund managed by Valkyrie is in charge of 3,083.25 funds.

EZBC, which is owned by Franklin Templeton, and BTCW, which Wisdomtree owns, are at the very bottom of the list, with a total of 1,885 and 509 Bitcoins, respectively. More than 264,000 Bitcoins have been amassed by a group of nine exchange-traded funds (ETFs) over the past five weeks. GBTC, on the other hand, has reduced the amount of Bitcoins it possesses by approximately 161,046.16 BTC since January 12, 2024.

On that particular day, Grayscale’s GBTC held approximately 617,079.99 BTC, but by the time Saturday, February 17, 2024, rolled around, the amount had dropped to 456,033.83 BTC. This information is based on historical transactions. Based on the current exchange rates, the 161 thousand bitcoins that GBTC sold are now worth $8.26 billion. This decrease indicates that the flow from the nine recent exchange-traded funds (ETFs) has effectively offset the sales that GBTC has made.

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