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US Bitcoin ETF Surges 827K BTC, Challenging Global ETPs

US Bitcoin ETF Surges 827K BTC, Challenging Global ETPs

Global BTC ETPs are facing fierce competition from U.S. Spot Bitcoin ETFs. Since the market opened in January, their American counterparts have removed over 827,000 BTC. Globaloin ETPs have acquired a gigantic reserve of more than 931,000 BTC. 

Overview of the Reserves for the Bitcoin ETF 

According to the latest reports, the 11 newly formed U.S. Bitcoin ETFs boast a reserve of 827,321 BTC. With 291,815 BTC, Grayscale’s GBTC ETF has the largest share, less than half of the reserve of $619,000 BTC held during inception. Furthermore, at 274,320 BTC, BlackRock’s iShares Bitcoin Trust (IBIT) lags far behind, having only started with 225 BTC. 

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In addition, the Fidelity Wise Bitcoin ETF has amassed 152,880 BTC in reserves. Additionally, 43,470 BTC has been taken off the market by the Ark 21Shares ETF (ARKB). In the meantime, 33,942 Bitcoin are held in the Bitwise BTC ETF (BITB). Additionally, a reserve of $9,305 BTC is held by the VanEck Bitcoin Trust (HODL). 

Meanwhile, the Valkyrie BTC ETF (BRRR) has attracted inflows of 8,105 BTC. Furthermore, a reserve of 6,633 BTC has been added to Invesco Galaxy’s BTCO ETF. However, Franklin Templeton’s EZBC has amassed 6,003 BTC since its introduction. Moreover, the Bitcoin ETFs from WisdomTree and Hashdex have captured 1,120 and 178 BTC, respectively. 

Conversely, worldwide Bitcoin ETPs have amassed a 932,811 reserve. With 27,673 BTC, Canada’s Purpose Bitcoin ETF leads this reserve. Furthermore, as of right now, the ETC Group Physical Bitcoin Fund in Germany owns 21,005 BTC. Furthermore, since their historic debut last week, the Hong Kong Bitcoin ETFs have amassed a sizeable reserve of 4,256 BTC. 

BlackRock’s IBIT Sees Considerable Institutional Acceptance 

Globally, 168 asset managers have invested in the BlackRock Bitcoin ETF. Hong Kong-based Yong Rong Asset Management Ltd. owns the largest holding in the IBIT ETF. According to a 13F filing, the firm holds a whopping $40.51 million worth of BlackRock’s IBIT. 

Ovata Capital Management Ltd., a different Hong Kong company, owns a sizable $9.67 million stake in the BlackRock IBIT ETF. Furthermore, Lombard Odier Darier Henstsch and Belle Capital A.G., prominent Swiss asset managers, have invested $1.57 and $1.03 million in IBIT, respectively. 

Moreover, BNP Paribas, the second-biggest bank in Europe, has embraced the BlackRock ETF. Even though the investment is only $41,000, it represents a significant turning point in the institutional adoption of Bitcoin ETFs worldwide. In addition, Quattro Financial Advisors LLC owns a substantial $16.82 stake in the IBIT ETF issued by BlackRock.

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