US Spot Bitcoin ETF Will Challenge Global ETPs by Raising 827K BTC
US Spot Bitcoin ETFs are giving tough competition to global BTC ETPs. Their US counterparts have raised 827,000 BTC from the market since its inception in January this year. Meanwhile, global Bitcoin ETPs have accumulated a massive reserve of more than 931,000 BTC.
Bitcoin ETF Reserve Overview
According to the latest disclosures, 11 newly launched US Bitcoin ETFs have reserves of 827,321 BTC. Grayscale’s GBTC ETF has the largest share with 291,815 BTC; This is less than 50% of the $619,000 BTC reserve held at the time of launch. Additionally, BlackRock’s iShares Bitcoin Trust (IBIT) follows with 274,320 BTC, starting with just 225 BTC.
Additionally, Fidelity Wise Bitcoin ETF has amassed a reserve of 152,880 BTC. Additionally, Ark 21Shares ETF (ARKB) collected 43,470 BTC from the market. Meanwhile, Bitwise BTC ETF (BITB) has a fund of 33,942 BTC. Additionally, VanEck Bitcoin Trust (HODL) has $9,305 in BTC reserves.
Valkyrie BTC ETF (BRRR) attracted an inflow of 8,105 BTC. Additionally, Invesco Galaxy’s BTCO ETF purchased reserves of 6,633 BTC. On the other hand, Franklin Templeton’s EZBC has raised 6,003 BTC since its launch. Additionally, WisdomTree and Hashdex Bitcoin ETFs reached 1,120 and 178 BTC respectively.
On the other hand, global Bitcoin ETPs accumulated 932,811 reserves. This reserve is managed by Canada’s Purpose Bitcoin ETF, which holds 27,673 BTC. Additionally, Germany’s ETC Group Physical Bitcoin Fund has seized 21,005 BTC to date. In addition, Hong Kong Bitcoin ETFs have accumulated a significant reserve of 4,256 BTC since its historic launch last week.
Also Read: Bitcoin and ETH Recorded $251 Million Outflow Last Week, But There’s a Problem
BlackRock’s IBIT Witnesses Significant Corporate Adoption
BlackRock Bitcoin ETF raised investments from 168 asset managers worldwide. The top stake in the IBIT ETF is held by Yong Rong Asset Management Ltd., a Hong Kong-based entity. According to a recent filing in 13F, the firm owns a whopping $40.51 million worth of BlackRock’s IBIT.
Meanwhile, another Hong Kong firm, Ovata Capital Management Ltd., has a significant $9.67 million stake in the BlackRock IBIT ETF. Additionally, leading Swiss asset managers Lombard Odier Darier Henstsch and Belle Capital AG invested $1.57 and $1.03 million respectively in IBIT.
Additionally, BlackRock ETF has also been adopted by BNP Paribas, the second largest bank in Europe. Although the investment was only $41,000, it is a significant milestone in the global institutional adoption of Bitcoin ETFs. Additionally, Quattro Financial Advisors LLC owns a whopping $16.82 stake in BlackRock’s IBIT ETF.
Also Read: Breaking News: Grayscale Ether Futures ETF Withdraws 19b-4 Application
✓ Share:
parofix consists of an experienced team of local content writers and editors who work around the clock to cover the news globally and present the news as a fact rather than an opinion. parofix writers and reporters contributed to this article.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
#Spot #Bitcoin #ETF #Challenge #Global #ETPs #Raising #827K #BTC
