Although Grayscale GBTC holds the largest BTC reserves, BlackRock’s Bitcoin ETF IBIT remains the top choice for institutions.
U.S. Bitcoin ETFs have seen tremendous success in their first three months after launch, making them one of the most popular Bitcoin investment products currently on the market. Shortly after their launch, spot Bitcoin ETFs have begun to erode the market share of global Bitcoin exchange-traded products (ETPs).
As of now, the newly launched spot Bitcoin ETF has 827,321 BTC in reserves. Despite the massive outflow of funds from Grayscale Bitcoin ETF GBTC, it still holds the highest share with 291,815 BTC, but this share has decreased by 50% since its launch. BlackRock's iShares Bitcoin Trust (IBIT) is the second largest holder with 274,320 BTC in reserves.
In addition, the Fidelity Wise Bitcoin ETF has accumulated 152,880 BTC in reserves. Meanwhile, the Ark 21Shares ETF (ARKB) has acquired 43,470 BTC, while the Bitwise Bitcoin ETF (BITB) holds 33,942 BTC in its fund. The VanEck Bitcoin Trust (HODL) has accumulated reserves equivalent to 9,305 BTC.
In comparison, the Valkyrie BTC ETF (BRRR) has received 8,105 BTC inflows, while the Invesco Galaxy Bitcoin ETF has received 6,633 BTC in reserves. Conversely, Franklin Templeton's EZBC has received 6,003 BTC since its launch. In addition, the WisdomTree and Hashdex Bitcoin ETFs have received 1,120 and 178 BTC respectively.
BlackRock's IBIT remains the top choice for institutions
Although Grayscale's GBTC remains the largest Bitcoin ETF, BlackRock's IBIT remains the top choice for institutions, with investments from 168 asset managers worldwide. Hong Kong-based Wing Wing Asset Management holds the highest stake in IBIT, valued at $40.51 million.
Another Hong Kong-based company, Ovata Capital Management Ltd., also holds a sizable stake in BlackRock’s IBIT, worth $9.7 million, which suggests that BlackRock’s Bitcoin fund is popular not only among U.S. players but also globally.
For example, leading Swiss asset management companies Lombard Odier Darier Henstsch and Belle Capital AG invested $1.57 million and $1.03 million in IBIT, respectively.
In addition, some top financial banking institutions have also been looking to invest in spot Bitcoin ETFs. Banking giant Bank of New York Mellon said it has invested in BlackRock Group and Grayscale's spot Bitcoin ETF products. Similarly, BNP Paribas, Europe's second-largest banking institution, has also invested in spot Bitcoin ETFs.
According to SoSo Value data, the net outflow of Bitcoin spot ETFs reached $15.6439 million on May 7. Among them, Grayscale ETF GBTC experienced a net outflow of $28.613 million on the same day. #比特币ETF #市场份额