Just two months after its listing, BlackRock’s Bitcoin spot ETF (IBIT) has quickly surpassed 200,000 bitcoins in assets under management. According to information disclosed by the fund, BlackRock’s IBIT currently holds approximately 204,000 bitcoins, valued at around $14.7 billion at the current price.
According to a chart of asset under management compiled by BitMEX Research for nine new Bitcoin spot ETFs (excluding Grayscale’s converted GBTC fund), Fidelity’s FBTC ranks second with approximately 128,000 BTC, while Ark Invest 21Shares’ ARKB ranks third with nearly 38,000 BTC. In total, the nine new Bitcoin spot ETFs have attracted over 420,000 bitcoins.
Compared to its competitors, the asset held by the higher-cost GBTC has decreased by 37% from around 619,000 bitcoins to 388,000 bitcoins during the same period. Currently, the assets held by GBTC are less than the combined total of the other nine Bitcoin ETFs. However, Bloomberg analyst James Seyffart pointed out that although the outflow of bitcoins from GBTC is significant, the fund’s assets under management have remained the same in terms of US dollars due to the rise in the price of bitcoin since the ETF started trading on January 11th.
