US Bitcoin ETF Surges with 827K BTC, Challenging Global ETPs: Spotlight on Bitcoin (BTC)
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- The U.S. Spot Bitcoin ETFs have accumulated a collective reserve of over 827,000 BTC, posing a significant challenge to global Bitcoin ETPs, including those in Hong Kong.
- Grayscale’s GBTC holds the largest share in the U.S. Bitcoin ETF reserve.
- Global Bitcoin ETPs currently hold more than 931,000 BTC.
U.S. Spot Bitcoin ETFs are ramping up their reserves, challenging the dominance of global Bitcoin ETPs. This article delves into the details of this development and its implications for the crypto market.
U.S. Spot Bitcoin ETFs vs. Global Bitcoin ETPs
The U.S. Spot Bitcoin ETFs have amassed over 827,000 BTC since their launch in January this year, posing a significant challenge to global Bitcoin ETPs, which have a reserve of more than 931,000 BTC. Grayscale’s GBTC ETF holds the largest share in the U.S. Bitcoin ETF reserve, with 291,815 BTC, less than 50% of the reserve of $619,000 BTC held during its debut. BlackRock’s iShares Bitcoin Trust (IBIT) follows closely with 274,320 BTC, a significant increase from its initial 225 BTC.
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