New data shows that bitcoin exchange-traded funds (ETFs) have collectively surpassed the impressive milestone of holding over 1 million BTC.
How 12 U.S. Bitcoin ETFs Quickly Acquired 1 Million BTC
In just 293 days, 12 U.S. spot bitcoin ETFs have accumulated over 1 million BTC, totaling nearly $71 billion. As of January 11, 2024, these funds have collectively added 1,007,705 BTC, worth approximately $70.995 billion as of 12:45 PM Eastern Time on October 31. Historically, Grayscale's GBTC led, initially holding 620,000 BTC at launch.
Today, GBTC's holdings have decreased to 220,299.21 BTC, with Grayscale Bitcoin Mini Trust adding 34,536.41 BTC. In total, these funds currently hold a combined 254,835 BTC, worth $17.95 billion. Currently, Blackrock's IBIT leads the way with 429,112 BTC worth $30.23 billion. Fidelity's FBTC holds 188,588 BTC, while Ark Invest and 21Shares' ARKB hold 50,379 BTC, and Bitwise's BITB holds 42,507 BTC.
Vaneck's HODL controls 13,152 BTC, followed by Valkyrie's BRRR with 9,193 BTC, and Invesco's BTCO currently holds 8,679 BTC. Meanwhile, Franklin Templeton's EZBC holds 7,360 BTC, Wisdomtree's BTCW holds 3,749 BTC, and Hashdex's DEFI fund is the smallest, with 151 BTC in reserve. According to sosovalue.com, these BTC ETFs have reported outstanding market performance.
As of January 11, BlackRock's IBIT has attracted a total of $25.82 billion in net inflows, while Grayscale's GBTC has seen outflows totaling $20.13 billion since its debut on NYSE Arca. Of the one million BTC held across all funds, IBIT accounts for 42.58% of the total, with GBTC and Grayscale Bitcoin Mini Trust holding 25.29% each. FBTC represents 18.71%, and all other funds hold 5% or less each. In total, these ETFs hold 5.10% of the 19,775,630.49 BTC in circulation as of block height 868,271.
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