Recently, the long-awaited Bitcoin (BTC) spot was finally released exchange-traded funds (ETFs) in the United States.
However, there appears to be some uncertainty about how much Bitcoin these exchange-traded funds actually hold.
Arkham Intelligence, a blockchain analytics company, is now laying claim to the so-called on chain I have identified the addresses of several Bitcoin ETFs.
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Bitcoin ETFs from BlackRock, Bitwise, Fidelity and Franklin Templeton
Arkham reports Twitter that it identified the addresses of four Bitcoin ETFs, namely those of BlackRock, Bitwise, Fidelity and Franklin Templeton.
With Arkham’s data, it is now possible to view the transactions of these four spot Bitcoin ETFs directly on the Bitcoin network blockchain. Arkham says it is the first party to identify these addresses.
According to this data, BlackRock's Bitcoin fund, BlackRock's iShares Bitcoin Trust (IBIT), controls 33,431 BTC. This corresponds to the number of BTC that BlackRock lists on its own website.
Due to the falling price of Bitcoin, these Bitcoins are worth about $1.3 billion at the time of writing.
Fidelity's fund, the Fidelity Wise Origin Bitcoin Fund (FBTC), currently manages 29,907 BTC worth $1.16 billion. The Bitwise Bitcoin ETF (BITB) manages 10,152 BTC worth $394 million. Finally, the Franklin Templeton Bitcoin ETF (EZBC) manages 1,160 BTC worth $45 million.
Data from other Bitcoin ETFs
Then there's Grayscale Investments' massive Bitcoin fund. The address was already known because the fund already existed before it was converted into an ETF.
The Grayscale ETF has primarily seen outflows in recent weeks due to the emergence of competing ETFs, which often have lower costs. The Grayscale Bitcoin ETF (GBTC) manages 558,280 BTC worth around $21.65 billion.
However, eleven Bitcoin ETFs have been approved, but Arkham has not yet discovered the addresses of the remaining six. This affects the Bitcoin funds from ARK Invest, VanEck, ProShares, Valkyrie, Invesco and WisdomTree.
The crypto market has been eagerly waiting for Bitcoin ETFs to be approved in the US for years. They would attract enormous capital by making it easier for retail investors to invest in Bitcoin, but most importantly by opening the doors to institutional investors.
However, the approval of ETFs has not yet had the desired effect on the Bitcoin price. Shortly after approval, the price briefly shot up to $49,000, but has since fallen to $38,850.
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