• February 28, 2024

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Crypto ETFs Acquire More Than 200,000 Bitcoins: Report

ByLouis Adams

Feb 12, 2024 #Bitcoin
Reading time: < 1 minute

In January, ETFs focused on investing in Bitcoin entered the US stock market after the approval of 11 applications by the Securities and Exchange Commission (SEC).

One such fund is the former Grayscale Bitcoin Trust (GBTC), which has experienced significant outflows, with its assets decreasing by nearly 25% from 619,000 BTC ($28.8 billion) to 469,000 BTC ($21.8 billion), according to data from the Coinglass platform.

However, a report from K33 Research revealed that nine other crypto ETFs, excluding the GBTC Converted Trust, have purchased over 200,000 Bitcoins in the past month. As of February 9, these ETFs collectively controlled 203,811 BTC, with a total value of $9.5 billion.

These include funds from major names such as BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), and Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW).