BlackRock and Fidelity, two of the world’s biggest asset managers now hold 0.5% of bitcoin’s total supply less than three weeks after their bitcoin spot ETFs began trading.
BlackRock has 52,000 bitcoin, worth $2.2 billion, according to blockchain data, making them one of the biggest bitcoin holder in the world.
Fidelity has 47,238 bitcoin, worth $2 billion at current prices, with the asset manager currently accumulating at $100-$200 million a day.
The third biggest holder from the identified bitcoin addresses is Bitwise. They currently have 13,576 bitcoin, worth $590 million.
Bitwise is the only ETF manager to explicitly state their bitcoin address. Trustnodes was able to identify it before their confirmation based on blockchain analysis, increasing the confidence that we have the correct data.
The fourth place based on blockchain data goes to VanEck. They have 2,942 bitcoin, worth $128 million.
Then there is Franklin Templeton with 1,363 bitcoin, worth $59 million. That makes it a total of 117,000 bitcoin for the ones identified onchain.
Then there is Ark Invest with $637 million worth of bitcoin as of Monday. Invesco with $298 million and Valkyrie with $113 million as well as WisdomTree with just $9 million.
In total all the new ETFs have $6.4 billion worth of bitcoin with $5.1 billion identified onchain. Ark and Invesco will probably be found in due course.
Their total holdings, just three weeks after trading began, now amount to 28.5% of GBTC’s holdings at $21 billion.
Grayscale’s GBTC has been trading since circa 2014. Its bitcoin redemption was initially limited to just accredited investors until they froze it completely in 2021.
The conversion of GBTC into a full ETF earlier this month now allows for unlimited redemption, leading to circa 100,000 worth of bitcoin shares converted.
The outflows from Grayscale have slowed down recently, while inflows to the other new ETFs continue to be consistent.
That makes the ETF launch one of the most successful, both in the ETF industry and in crypto, as global asset managers now start accumulating bitcoin for their clients.
Source: trustnodes.com
Featured image from: cointribune.com