Nine Bitcoin Exchange Traded Fund (ETF) issuers are swallowing up the crypto king, accumulating billions of dollars in BTC less than two weeks after launch, according to an expert.
Bloomberg analyst Eric Balchunas tells his 230,600 followers on the social media platform
According to Balchunas, nine Bitcoin ETF issuers include Fidelity (FBTC), iShares (IBIT), Invesco (BTCO), ARK/21Shares (ARKB), Bitwise (BITB), VanEck (HODL), WisdomTree (BTCW), Valkyrie (BRRR). ) and Franklin Templeton (EZBTC) jointly own a total of 95,297.2 BTC worth approximately $4 billion as of January 19.
The leader is iShares with 33,706 BTC worth more than $1.4 billion, followed by Fidelity with 30,384 BTC worth $1.262 billion. At number three is Bitwise with 10,235 BTC worth $425.4 million under management, while ARK/21Shares is not far behind with a total of 9,134.2 BTC worth $379.6 million.
Invesco takes fifth place as the company holds 6,192.8 BTC worth $257.4 million, followed by VanEck with a supply of 2,566.9 BTC worth $106.7 million and Valkyrie with a treasure of 1,726 .5 BTC worth $71.7 million.
Franklin Templeton lands at number eight, capturing 1,169.5 BTC worth $48.6 million, while WisdomTree rounds out the list with 182.1 BTC worth $7.6 million.
Balchunas also says that the buying activity of the nine Bitcoin ETF issuers has surpassed the selling of crypto titan Grayscale (GBTC).
“LATEST: Despite GBTC seeing outflows of -$590 million on Friday, the Nine overwhelmed it with +$623 million (third best day).
IBIT and FBTC both had over $200 million, while BTCO and HODL had their best returns yet. Total net flows are +$1.2 billion as Nine’s AUM (AUM) is $4 billion versus GBTC’s -$2.8 billion, increasing AUM’s share to 14%.”
Balchunas also says the biggest GBTC sellers are FTX and traders who picked up shares last year when the fund was trading at deep discount territory.
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Generated image: Midjourney
