Skip to main content

Unveiling Bitcoin Reserves — A Deep Dive Into Holdings of 6 New Spot Bitcoin ETFs

Unveiling Bitcoin Reserves — A Deep Dive Into Holdings of 6 New Spot Bitcoin ETFs

In the initial forty-eight hours following the launch of the United States’ first spot bitcoin exchange-traded funds (ETFs), data has emerged regarding the number of bitcoins held by these funds. Currently, Blackrock stands at the forefront among all funds, Grayscale’s GBTC excluded, with a significant holding of 11,439 bitcoin. Additionally, the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Bitwise Bitcoin Trust (BITB) also possess substantial bitcoin reserves.

Unpacking the Holdings: A Glimpse Into Emerging Spot Bitcoin ETFs

Recently, the U.S. Securities and Exchange Commission (SEC) authorized 11 spot bitcoin ETFs for the inaugural time. Among these, a fund operated by digital currency manager Hashdex isn’t a spot BTC ETF currently. On Jan. 11, Hashdex clarified in a public announcement that their offering is presently a futures product, with plans to evolve into a spot BTC ETF. This implies that, at this stage, the fund does not include bitcoin in its portfolio.

On Saturday, Bitcoin.com News highlighted Blackrock’s position boasting ownership of 11,439 BTC. Among the funds approved by the SEC, Blackrock’s reserves are the most substantial, second only to Grayscale’s GBTC, which currently possesses 617,079 BTC as of Jan. 13, 2024. This indicates that Blackrock’s recently amassed BTC represents 1.85% of Grayscale’s extensive holdings.

Data from the Bitwise ETF reveals that the fund’s net assets under management (AUM) amount to $242,940,653. According to insights provided by bitcointreasuries.net user @girevik, dividing the AUM by the cfbenchmarks reference price noted on the preceding Thursday and Friday indicates that Bitwise is likely in possession of 5,550 BTC. Nevertheless, the specific quantity of BTC is not officially detailed on the Bitwise web portal, which only displays the AUM in U.S. dollars.

Trailing just behind Bitwise is the Fidelity Wise Origin Bitcoin Fund (FBTC), which, as of the latest update on Jan. 12, 2024, is in possession of 5,290 BTC. Vaneck’s spot bitcoin ETF, named HODL, transparently displays its BTC holdings, revealing that the firm owns 1,640.92 BTC. Another player, Franklin Templeton’s ETF labeled EZBC, also maintains a bitcoin reserve. Its web portal indicates that as of Friday, the fund has 1,131 BTC.

Furthermore, the ARK 21shares Bitcoin ETF (ARKB) website reveals that the fund possesses an estimated 1,625 BTC, which corresponds to an AUM of $75,833,696. Valkyrie, recently acquired by Coinshares, has 1,102.87 BTC, as indicated on the BRRR fund’s website. However, the Invesco Galaxy ETF, known as BTCO, currently does not showcase its BTC holdings on its website, as the “holdings” page awaits an update. Similarly, Wisdomtree and its BTCW fund have yet to display a full BTC count of holdings on their website.

Among all the aforementioned funds, including Blackrock’s holdings, the ETFs collectively have approximately 26,152 BTC in their possession, which translates to a value of $1.11 billion at the current BTC exchange rates. This amount, though significant, is relatively modest when compared to Grayscale’s vast reserve of 617,079 BTC, comprising just 4.23% of GBTC’s total holdings. Furthermore, other non-U.S. exchange-traded products (ETPs) surpass the newly introduced spot bitcoin ETFs in bitcoin holdings. For example, Bitwise’s BITW fund holds 11,003 BTC.

In the international arena, Canada’s Purpose ETF boasts a holding of 34,007 BTC, while the ETC Physical Bitcoin fund on the Xetra trading platform secures 26,858 BTC. Coinshare’s fund, XBT.ST, traded on the Nasdaq Stockholm stock exchange, maintains 18,783 BTC. Additionally, as of January 14, 2024, Grayscale’s Digital Large Cap fund holds 6,391 BTC.

What do you think about the assets held by the newly introduced spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/WmDHc4g
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more