Unveiling Bitcoin Reserves: A Comprehensive Look at 6 New Spot Bitcoin ETFs

The Leading Bitcoin ETFs and Their Holdings

Following the launch of the first spot bitcoin exchange-traded funds (ETFs) in the United States, data has emerged about the bitcoin holdings of these funds. Blackrock currently holds the largest amount of bitcoin among these funds, excluding Grayscale's GBTC. They possess an impressive 11,439 bitcoin. Additionally, both the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Bitwise Bitcoin Trust (BITB) also have substantial reserves of bitcoin.

An In-Depth Analysis of the Holdings

The U.S. Securities and Exchange Commission (SEC) recently approved 11 spot bitcoin ETFs. However, it's important to note that Hashdex, a digital currency manager, currently operates a futures product rather than a spot BTC ETF. They have plans to transition into a spot BTC ETF in the future. As a result, their portfolio does not currently include bitcoin.

Blackrock's bitcoin holdings stand at 11,439 BTC, making them the largest among the SEC-approved funds, second only to Grayscale's GBTC which holds 617,079 BTC as of January 13, 2024. This means that Blackrock's BTC holdings represent 1.85% of Grayscale's extensive holdings.

The Bitwise ETF's net assets under management (AUM) amount to $242,940,653. Although the exact quantity of BTC held by the fund is not officially disclosed on their website, user @girevik from bitcointreasuries.net estimates that Bitwise likely has 5,550 BTC based on the AUM divided by the cfbenchmarks reference price from the previous Thursday and Friday.

The Fidelity Wise Origin Bitcoin Fund (FBTC) holds 5,290 BTC as of the latest update on January 12, 2024. Vaneck's spot bitcoin ETF, named HODL, transparently displays their BTC holdings, which currently amount to 1,640.92 BTC. Franklin Templeton's ETF, EZBC, also maintains a bitcoin reserve, with 1,131 BTC as of Friday.

The ARK 21shares Bitcoin ETF (ARKB) possesses an estimated 1,625 BTC, equivalent to an AUM of $75,833,696. Valkyrie, now owned by Coinshares, holds 1,102.87 BTC according to the BRRR fund's website. However, the Invesco Galaxy ETF (BTCO) and Wisdomtree's BTCW fund do not currently disclose their BTC holdings on their respective websites.

Collectively, all the aforementioned funds, including Blackrock, hold approximately 26,152 BTC, with a value of $1.11 billion based on the current BTC exchange rates. While this amount is significant, it is relatively modest compared to Grayscale's massive reserve of 617,079 BTC, representing only 4.23% of GBTC's total holdings. Moreover, non-U.S. exchange-traded products (ETPs) such as Bitwise's BITW fund surpass the newly introduced spot bitcoin ETFs in terms of bitcoin holdings, with 11,003 BTC.

Bitcoin Holdings in International Bitcoin ETFs

Internationally, Canada's Purpose ETF holds an impressive 34,007 BTC, while the ETC Physical Bitcoin fund on the Xetra trading platform secures 26,858 BTC. Coinshare's fund, XBT.ST, traded on the Nasdaq Stockholm stock exchange, maintains 18,783 BTC. Additionally, as of January 14, 2024, Grayscale's Digital Large Cap fund holds 6,391 BTC.

What are your thoughts on the bitcoin holdings of these newly introduced spot bitcoin ETFs? Share your opinions and insights in the comments section below.


How To

Investing with gold or stocks

Gold investing as an investment vehicle can seem extremely risky these days. This is because many people believe gold is no longer financially profitable. This belief stems from the fact that most people see gold prices being driven down by the global economy. They think that they would lose money if they invested in gold. In reality, though, gold investment can offer significant benefits. Here are some examples.

The oldest form of currency known to mankind is gold. It has been used for thousands of years. People around the world have used it as a store of value. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.

You must first decide how much you are willing and able to pay per gram to decide whether or not gold should be your investment. When looking into buying gold bullion, you must decide how much you are willing to spend per gram. You could contact a local jeweler to find out what their current market rate is.

It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. So while the price of gold has declined, production costs haven't changed.

It is important to keep in mind the amount you plan to purchase of gold when you're weighing whether or not it is worth your time. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. If you plan to do so as long-term investments, it is worth looking into. If you sell your gold for more than you paid, you can make a profit.

We hope this article has given you an improved understanding of gold investment tools. We strongly recommend that you research all available options before making any decisions. Only then can informed decisions be made.


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