The approval and launch of Bitcoin ETFs have significantly contributed to the top crypto’s price rise in recent months. In the latest development concerning BTC ETFs, Lookonchain (a famous on-chain analytics platform) disclosed that 9 ETFs have reportedly included up to 714 *BTC*. This event has taken place on the 10th of May. The analytics provider revealed this development on its official account on X.
May 10 Update:9 ETFs added 714 $BTC(+$43.76M).#Grayscale decreased 12 $BTC(-$733K) and currently holds 291,790 $BTC($17.89B).#Blackrock added 228 $BTC(+$13.96M) and currently holds 274,550 $BTC($16.83B).https://t.co/JYMfKF7Tyq pic.twitter.com/9EumX3zsgv
— Lookonchain (@lookonchain) May 10, 2024
9 Well-Known ETFs Add 714 BTC to Their Token Holdings
Lookonchain noted that the respective tokens equal a huge amount of more than $43.76 million. While providing details, it mentioned that the popular crypto asset management firm Grayscale decreased by nearly twelve BTC (almost $733K). Following this, the platform reportedly holds up to 291,790 BTC tokens at present. In addition to this, the development also takes into account a popular ETF BlackRock.
As per Lookonchain, BlackRock included nearly 228 Bitcoins. This figure denotes more than $13.96 million. As a result of this endeavor, the present Bitcoin holdings of BlackRock comprise up to 274,550 tokens. This figure equals approximately $16.83 billion. In addition to this, Fidelity Wise Origin Bitcoin Fund has seen an inclusion of above 44 BTC. This has raised the platform’s BTC holdings to 152,925 Bitcoin.
Moreover, ARK 21Shares Bitcoin ETF has experienced an inflow of more than 70 BTC. Subsequently, its BTC holdings have elevated to 43.541 Bitcoin. Another well-known exchange-traded fund “Bitwise Bitcoin ETF” has witnessed the inclusion of nearly 109 BTC, raising its holdings to 33,787 BTC. Additionally, Invesco Galaxy Bitcoin ETF has gone through an increase of almost 159 BTC. This places its BTC holdings at 6,938 Bitcoin.
The Bitcoin Inflows into the ETFs Lead to Significant Elevation in Their Holdings
Although VanEck Bitcoin Trust did not witness inflows on May 10th, it added above $170 BTC in the last week. Hence, its holdings have touched 9,333 BTC. The 1-day Bitcoin inflows of Valkyrie Bitcoin Fund also show the same pattern. On the other hand, it has included up to 576 Bitcoin in the last 7 days. In the case of Franklin Bitcoin ETF, the platform effectively added above 117 Bitcoins on the 10th. With this, its cumulative holdings have reached approximately 6,117 BTC.
