New spot bitcoin ETFs amass 200,000 BTC in less than one month of trading | Headlines | News | CoinMarketCap

02/09/2024 19:16
New spot bitcoin ETFs amass 200,000 BTC in less than one month of trading | Headlines | News | CoinMarketCap

After less than one month of trading, the nine newborn spot bitcoin exchange-traded funds now hold more than 200,000 BTC in assets under management — …

After less than one month of trading, the nine newborn spot bitcoin exchange-traded funds now hold more than 200,000 BTC in assets under management — excluding Grayscale’s converted GBTC fund.

According to K33 Research, the nine new ETFs had amassed 203,811 ($9.5 billion) as of yesterday’s close. Launching on Jan. 11, these ETFs are BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW).

To put that into context, the newborn ETFs now hold nearly 1% of bitcoin’s total supply of 21 million BTC. That’s more than software company MicroStrategy’s 190,000 BTC, over three times stablecoin issuer Tether’s 66,465 BTC and more than all public bitcoin miners combined.

Bitcoin held by new ETFs. Image: K33 Research.

Bitcoin held …

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