Creative Translation: “Beletcoin’s Spot ETF Gains Over 200,000 Bitcoins in Just Two Months”

Creative Translation: "Beletcoin's Spot ETF Gains Over 200,000 Bitcoins in Just Two Months"

Creative Translation: "Beletcoin's Spot ETF Gains Over 200,000 Bitcoins in Just Two Months"

Just two months after its listing, BlackRock’s Bitcoin Spot ETF (IBIT) has rapidly 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 management sizes for nine new Bitcoin spot ETFs (excluding Grayscale’s transformed GBTC fund) compiled by BitMEX Research, Fidelity’s FBTC currently ranks second with approximately 128,000 BTC, while Ark Invest’s ARKB ranks third with nearly 38,000 BTC. The total inflow for these nine new Bitcoin spot ETFs has exceeded 420,000 bitcoins.

Compared to its competitors, the asset holdings of the higher-cost GBTC have declined by 37% from around 619,000 bitcoins to 388,000 bitcoins during the same period, currently amounting to less than the total holdings of the other nine Bitcoin ETFs. However, Bloomberg analyst James Seyffart pointed out that although the outflow of GBTC in terms of bitcoins is substantial, the fund has maintained the same assets under management (AUM) in terms of US dollars since the ETF started trading on January 11, due to the relative increase in the price of bitcoin against the US dollar.