- Institutional investors own a fifth of all Spot Bitcoin ETF shares, with holdings including 193,000 BTC valued at around US$13 billion.
- BlackRock’s IBIT holds the most BTC among funds, although ARK 21Shares Bitcoin ETF leads with 32.79% institutional ownership.
- A total of 1,179 institutions now own Bitcoin via an ETF, with major stakeholders like Goldman Sachs and Jane Street.
- The recently approved Bitcoin funds hold nearly 1 million BTC, valued at US$64.25 billion, a fraction of Bitcoin’s US$1.3 trillion market cap.
Recent data shows that institutional investors hold a fifth of all shares in Spot Bitcoin exchange-traded funds (ETFs). CryptoQuant’s CEO, Ki Young Ju, reports that institutions now hold 193K BTC through ETFs, which accounts for around 20% of these funds, or approx. US$13 billion (AU$19.6 billion).
13F filings with the US Securities and Exchange Commission (SEC) have revealed that, unsurprisingly, BlackRock’s IBIT holds the most institutional Bitcoin, although it’s not the fund with the largest percentage of institutional ownership.
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ARK 21Shares Bitcoin ETF (ARKB) is the fund with the largest institutional ownership (percentage-wise) at 32.79%, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with 24.14% – IBIT comes in at only 18.38%.
Ki Young Ju also reports that 1,179 institutions now hold Bitcoin via Spot ETFs. Among them are well-known corporations like Jane Street, Goldman Sachs, and Susquehanna International Group.
Funds Now Hold 965.7k Bitcoin Combined
The US Spot Bitcoin ETFs, approved only in January 2024, have now amassed almost 1 million Bitcoin in total (i.e. by all investor types), or 4.599% of the total Bitcoin supply.
Again, IBIT leads this metric, with 392,121 BTC, closely followed by Grayscale’s Bitcoin Trust, which – after massive outflows since January – still holds 220,713 Bitcoin. FBTC comes in third with 185,093 BTC.
The remaining funds hold a combined 167,803 Bitcoin.
All in all, the funds now have a market value of US$64.25 billion (AU$96.79 billion), still relatively small in comparison to Bitcoin’s market cap of currently US$1.3 trillion (AU$1.95 trillion).
Latest Trading Day Sees Over US$300 Million in Inflows
Recent data available for the US funds shows a mixed result. Several funds experienced outflows: Bitwise’s BITB lost 327 BTC, ARKB had 90 BTC in outflows, Invesco Galaxy’s BTCO saw 80 BTC leave the fund, and Grayscale’s GBTC lost 27 BTC.
VanEck’s HODL and Fidelity’s FBTC saw inflows with 339 BTC and 87 BTC respectively. However, BlackRock’s IBIT continues to dominate, with an inflow of 4,869 Bitcoin.
Meanwhile, in Australia, local crypto funds have caused a bit of an ETF frenzy. Out of the top three performing ETFs overall (which includes all ETFs) two are crypto-related.
Related: Gary Gensler Gives Bitcoin a ‘Sweet Sixteen’ Shout-Out for White Paper Anniversary
As reported, the top Aussie ETFs are Global X 21 Shares Bitcoin ETF with a 1-year return of 118.1%, the Betashares Geared U.S. Equity Fund – Currency Hedged with a 76.8% return and Betashares Crypto Innovators ETF, which gained 76.7%.
Other notable crypto ETFs for Australia are the DigitalX Bitcoin fund BTXX and VanEck’s VBTC fund on the ASX. Additionally, the Cboe features Monochrome’s IBTC Bitcoin fund and its IETH Ethereum fund.
Apart from an Ethereum fund, Global X also has a Cboe Ethereum fund with the ticker EETH.
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