These 9 New Participants Have Accumulated Over 200,000 BTC In Under 30 Days

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In less than 30 days since their debut, new entrants of spot Bitcoin exchange-traded funds (ETFs), which include BlackRock (IBIT), Fidelity (FBTC), Ark 21Shares (ARKB), Invesco (BTCO), Bitwise (BITB), Valkyrie (BRRR), Franklin Templeton (EZBC), WisdomTree (BTCW), and VanEck (HODL) have collectively racked up over 200,000 BTC in assets under management, not counting Grayscale’s converted fund.

This accumulation signifies a pivotal shift in the crypto investment sphere, reflecting growing investor confidence and interest in Bitcoin as an asset class.

Market Leaders In The New Spot ETF Era

With an accumulation of approximately 203,811 BTC, according to K33 Research, BlackRock’s IBIT and Fidelity’s FBTC stand out as the leaders, with IBIT holding over 80,000 BTC ($3.7 billion) and FBTC managing more than 68,000 BTC ($3.2 billion).

These figures position these two funds at the forefront of the new spot ETF market, demonstrating their substantial impact in the short period since their inception.

Bloomberg ETF analyst Eric Balchunas highlighted the notable performance of these spot ETFs, noting their rapid ascent in a market traditionally dominated by long-established players.

The trading volume of these new ETFs is also noteworthy. BlackRock’s IBIT recently outperformed Grayscale’s spot Bitcoin ETF in daily trading volume, a significant feat considering Grayscale’s longstanding presence in the market.

According to the report, BlackRock’s IBIT saw $301 million on Thursday, which exceeded GBTC’s 290 million. In addition, Fidelity’s FBTC also showed strong performance, securing the third spot with a trading volume of $170 million.

Bitcoin Latest Price Action

This influx of investment into spot Bitcoin ETFs coincides with a bullish trend in Bitcoin’s market value. Recently, Bitcoin has seen an upward trajectory, trading above $47,000 and approaching its previous high of $48,000 in January.

Bitcoin (BTC) price chart on
BTC price is moving sideways on the 1-hour chart. Source: BTC/USDT on

This positive market movement is reflected in the daily trading volumes, which have escalated significantly. The notable performance of these new spot ETFs and the concurrent rise in Bitcoin’s value underscores the growing mainstream acceptance of cryptocurrencies as viable investment vehicles.

Analyst Vetle Lunde from K33 Research pointed out that yesterday marked the strongest daily net inflow for Bitcoin investment vehicles globally since January 2021. With approximately 4.52% of the circulating BTC supply now held by investment vehicles, the crypto market shows signs of maturity and increased institutional participation.

Featured image from Unsplash, Chart from TradingView

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