- Bloomberg analyst Eric Balchunas stated that he closely monitors capital movements both within and outside of the recently launched nine Bitcoin ETFs.
- At the top of the list is iShares with 33,706 BTC valued at over $1.4 billion, followed by Fidelity holding 30,384 BTC worth $1.262 billion.
- Balchunas also notes that the buying activities of the nine Bitcoin ETF issuers have surpassed the sales of crypto giant Grayscale (GBTC).
Increase in BTC Assets in Spot Bitcoin ETFs Draws Attention: How Many BTC Were Purchased?
Bitcoin ETF Funds Accumulate More Bitcoin
According to an expert, nine Bitcoin exchange-traded fund (ETF) issuers are swallowing up billions of dollars worth of BTC by accumulating it in a period of less than two weeks since its release. Bloomberg analyst Eric Balchunas stated that he closely monitors capital movements both within and outside of the recently launched nine Bitcoin ETFs.
According to Balchunas, as of January 19, nine Bitcoin ETF issuers, including Fidelity (FBTC), iShares (IBIT), Invesco (BTCO), ARK/21Shares (ARKB), Bitwise (BITB), VanEck (HODL), WisdomTree (BTCW), Valkyrie (BRRR), and Franklin Templeton (EZBTC), hold a total of 95,297.2 BTC (approximately $4 billion in value).
At the top of the list is iShares with 33,706 BTC valued at over $1.4 billion, followed by Fidelity holding 30,384 BTC worth $1.262 billion. In the third position is Bitwise with 10,235 BTC valued at $425.4 million, and ARK/21Shares follows closely behind, accumulating 9,134.2 BTC worth $379.6 million.
Invesco holds the fifth position with 6,192.8 BTC valued at $257.4 million, VanEck holds 2,566.9 BTC worth $106.7 million, and Valkyrie follows as the sixth and seventh positions, respectively, with 1,726.5 BTC valued at $71.7 million. Franklin Templeton is in the eighth position with 1,169.5 BTC valued at $48.6 million, and WisdomTree completes the list by holding 182.1 BTC valued at $7.6 million.
Buying activities surpass GBTC sales
Balchunas also mentions that the buying activities of the nine Bitcoin ETF issuers have surpassed the sales of crypto giant Grayscale (GBTC). Balchunas said, “LATEST: Despite GBTC seeing a $590 million outflow on Friday, the other issuers exceeded that with +$623 million (the third-best day). IBIT and FBTC both were over +$200 million, and BTCO and HODL had their best days. With total net flows of $1.2 billion, Nine’s assets under management (AUM) reached $4 billion, taking a 14% share of AUM against GBTC’s -$2.8 billion.”
Balchunas also notes that the largest GBTC sellers were traders who accumulated shares while the fund traded in the deep discount zone last year and FTX.
