New Bitcoin ETFs Amass $1.3 Billion in BTC in 6 Days as Funds Approach 500,000 Milestone

In just six days since their launch, the nine newly introduced spot Bitcoin exchange-traded funds (ETFs) have accumulated a total of 20,859.57 Bitcoins, valued at over $1.3 billion. However, they are still short of reaching the milestone of 500,000 Bitcoins by 25,636.45 coins.

Among these newly established ETFs, excluding GBTC, two funds stand out in terms of reserves held. Blackrock's IBIT leads the pack with an impressive reserve of 242,829.94 BTC, valued at $15.6 billion. Following closely is Fidelity's FBTC, holding 135,741.06 BTC worth $8.7 billion. Together, these two funds dominate the collective total, accounting for 79.8% of the combined Bitcoin holdings of the nine ETFs.

The distribution of Bitcoin holdings among the other ETFs is as follows: Ark Invest’s ARKB holds 40,213 BTC, Bitwise’s BITB holds 30,292.21 BTC, Vaneck’s HODL holds 8,116.94 BTC, Valkyrie’s BRRR holds 6,930.57 BTC, Invesco’s BTCO holds 4,996 BTC, Franklin Templeton’s EZBC holds approximately 4,118 BTC, and Wisdomtree’s BTCW holds 1,125.84 BTC.

Most of these ETFs utilize Coinbase Custody for Bitcoin storage, with seven out of the nine opting for it. Fidelity independently custodies FBTC’s holdings, Vaneck uses Gemini, and Valkyrie opts for Bitgo while keeping Coinbase as an alternative custodian.

The combined stash of 474,363.55 BTC held by the nine spot Bitcoin ETFs represents 2.25% of Bitcoin’s maximum supply of 20,999,999.97 BTC. When GBTC is considered alongside the nine, the total rises to 824,615.55 BTC, approximately 3.92% of Bitcoin’s cap. At the current rate of acquisition, these ETFs could potentially reach the 500,000 BTC milestone during the upcoming trading sessions next week.