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US Spot Bitcoin ETF Challenge Global ETPs By Ramping Up 827K BTC – Crypto News

Published

2 years ago

May 8, 2024

Dripp

The U.S. Spot Bitcoin ETFs are giving tough competition to global BTC ETPs. The U.S. counterparts have ramped up over 827,000 BTC from the market since inception in January this year. Whilst, global Bitcoin ETPs have acquired a gigantic reserve of more than 931,000 BTC.

Bitcoin ETF Reserve Overview

According to the latest disclosures, the 11 newly launched U.S. Bitcoin ETFs boast a reserve of 827,321 BTC. Grayscale’s GBTC ETF holds the highest share with 291,815 BTC, which is less than 50% of the reserve of $619,000 BTC held during debut. Moreover, BlackRock’s iShares Bitcoin Trust (IBIT) trails behind with 274,320 BTC, which started of with a mere 225 BTC.

Furthermore, the Fidelity Wise Bitcoin ETF has garnered a reserve of 152,880 BTC. In addition, the Ark 21Shares ETF (ARKB) has scooped up 43,470 BTC off the market. Meanwhile, the Bitwise BTC ETF (BITB) holds a fund of 33,942 BTC. Additionally, the VanEck Bitcoin Trust (HODL) accounts for a reserve of $9,305 BTC.

Whilst, the Valkyrie BTC ETF (BRRR) has attracted inflows of 8,105 BTC. Moreover, Invesco Galaxy’s BTCO ETF has acquired a reserve of 6,633 BTC. On the other hand, Franklin Templeton’s EZBC has garnered 6,003 BTC since launch. Furthermore, WisdomTree and Hashdex Bitcoin ETFs have grasped 1,120 and 178 BTC, respectively.

On the flip side, global Bitcoin ETPs have gathered a reserve of 932,811. This reserve is led by Canada’s Purpose Bitcoin ETF that holds 27,673 BTC. Moreover, Germany’s ETC Group Physical Bitcoin Fund has grabbed 21,005 BTC till date. In addition, the Hong Kong Bitcoin ETFs have acquired a substantial reserve of 4,256 BTC since the historic debut last week.

Also Read: Bitcoin & ETH Records $251M Outflow Last Week, But There’s A Catch

BlackRock’s IBIT Witnesses Significant Institutional Adoption

The BlackRock Bitcoin ETF has garnered investment by 168 asset managers globally. The highest stake in the IBIT ETF is held by Yong Rong Asset Management Ltd., which is a Hong Kong-based organization. The firm holds a whopping $40.51 million worth of BlackRock’s IBIT, according to a recent 13F filing.

Meanwhile, another Hong Kong firm, Ovata Capital Management Ltd., holds a sizeable stake of $9.67 million in the BlackRock IBIT ETF. Furthermore, Lombard Odier Darier Henstsch and Belle Capital A.G., prominent asset managers in Switzerland have invested $1.57 and $1.03 million in IBIT, respectively.

Furthermore, the BlackRock ETF has been adopted by BNP Paribas, the second-largest bank in Europe. Though the investment is of a mere $41,000, it is a significant milestone in the global institutional adoption of Bitcoin ETFs. Additionally, Quattro Financial Advisors LLC holds a massive $16.82 share in BlackRock’s IBIT ETF.

Also Read: Breaking: Grayscale Withdraws Ether Futures ETF 19b-4 Filing