Inflows in US Bitcoin Spot ETFs Reach USD 418 Million

Previously, since their founding on January 11, 2024, these nine spot bitcoin ETFs have quickly accumulated large amounts of bitcoin (BTC), with projections showing they will soon surpass the half-million mark.

Quoting News.bitcoin, Monday (18/3/2024) on March 17 2024, the collective ownership of 9 Bitcoin Spot ETFs amounted to 453,503.98 BTC, or USD 30.29 billion or the equivalent of Rp. 473.7 trillion.

IBIT Blackrock tops the list, with massive holdings of 228,612.98 Bitcoin, worth USD 15.27 billion, representing 50.41 percent of the total 453,503.98 BTC held.

Then there is Fidelity's FBTC Fund now securing 132,571.08 bitcoins, worth around USD 8.85 billion. FBTC reserves account for 29.23 percent of total bitcoin reserves among nine ETFs.

Next there is ARKB Ark Invest which currently owns 39,789 Bitcoins, with a market value of USD 2.65 billion, while BITB Bitwise owns 29,267 Bitcoins, estimated to be worth around USD 1.95 billion.

Recent developments show that Vaneck and Valkyrie's ownership exceeds that of Invesco. HODL Vaneck is pocketed on 7,438.19 Bitcoins, and BRRR Valkyrie has 6,343.69 Bitcoins.

In contrast, Invesco's BTCO fund holds 5,098 Bitcoins, worth more than USD 340 million, and Franklin Templeton's EZBC holds 3,306 Bitcoins.

Wisdomtree's BTCW Fund was at 1,078.04 Bitcoin in the latest figures. These combined reserves now exceed those of Grayscale's Bitcoin Trust (GBTC), which holds 380,240.68 Bitcoins worth USD 25.4 billion, marking a significant decline following its transition to a spot Bitcoin ETF.

Since January 12, 2024, when GBTC held 617,079.99 Bitcoins, there has been a devaluation of 236,839.31 Bitcoins over 65 days, a devaluation of approximately USD 15.82 billion.

While GBTC remains the largest spot Bitcoin ETF in terms of reserves, IBIT is quickly gaining ground, with its reserves now topping 60 percent of GBTC's holdings.