Newly launched Bitcoin ETFs (Exchange Traded Funds) in the United States have accumulated a significant portion of BTC.
In fact, the rapid accumulation rate highlights the growing influence of these ETFs in the US and offers investors new opportunities for exposure to the world's leading cryptocurrency.
Bitcoin ETF holdings
Data from CryptoQuant shows that the total holdings of Bitcoin ETFs in the US now exceed 638,900 BTC, equivalent to around $26.8 billion.
Grayscale's Bitcoin Trust, GBTC, is at the top with 566,973 BTC, worth over $23 billion. However, since its launch, the financial product has experienced significant outflows, resulting in approximately $5.5 billion in asset losses. Observers attribute these outflows to FTX's bankruptcy and investors' use of previous arbitrage opportunities.
“The more we think about it and talk to people, the more likely it is that only a small minority of GBTC outflows are going to the nine right now, as a lot of that was FTX and traders getting rebates.” Furthermore, the Proportionality of flows to the size of the company is almost perfect, indicating flows due to reach/distribution/effort,” said Eric Balchunas, senior ETF analyst at Bloomberg.
Read more: What is a Bitcoin ETF?
In contrast, recently launched ETFs show an interesting trend in Bitcoin accumulation. BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity's Wise Origin Bitcoin Trust (FBTC) have each acquired over 20,000 BTC. This has resulted in their assets under management surpassing $1 billion within the first six days of trading.
Balchunas also shed light on BlackRock's ETF performance. He found that IBIT is in the top 15% of all ETFs by assets and in the top 2% by daily volume. Additionally, ETF issuers including Bitwise, ARK 21 Shares, Invesco/Galaxy, Valkyrie, VanEck, Franklin Templeton and WisdomTree collectively hold a balance of around 23,000 BTC.
List of Bitcoin ETF issuers in the US and their BTC holdings:
| ticker | Exhibitor | Bitcoin holdings |
| GBTC | Grayscale | 566,973.41 |
| It will work | BlackRock | 28,622.13 |
| FBTC | loyalty | 20,466 |
| BITB | Bitwise | 8,294 |
| ARKB | Ark/21 shares | 7,565 |
| HODL | VanEck | 2,150.07 |
| BTCO | Invesco/Galaxy | 1,871 |
| BRRR | Valkyrie | 1,737.23 |
| BC | Franklin Templeton | 1,160 |
| BTCW | Wisdom tree | 111 |
Bitcoin ETF holdings. Source: CryptoQuant
BTC price prediction
Since the launch of the ETF, Bitcoin's price development has been relatively subdued. However, analysts expect this trend to potentially reverse as they anticipate improved market conditions and reduced selling pressure from GBTC.
Santiment, a leading blockchain analytics firm, highlighted bullish signals in Bitcoin’s Relative Strength Index (RSI) and MVRV. The company observed these signals when the cryptocurrency crossed the $42,000 threshold on January 19.
A technical analyst under the pseudonym CryptoCon also reinforced the optimistic outlook. According to his analysis, Bitcoin could reach $130,000 by the end of 2025.
“According to the halving cycle theory date of +/- 21 days from November 28, 2025, here are the prices of the top 3 bands: Layer 7: 180,000. Layer 6: 130k. Layer 5: 94k. The Layer 6 price of 130,000 is consistent with about five other price experiments I have run for the top of the cycle,” the analyst explained.
Read more: Bitcoin price prediction 2024/2025/2030
Bitcoin price development. Source: The Bitcoin Data Newsletter
However, the analyst noted that history suggests Bitcoin could reach $180,000 instead. Due to the potential failure of these pricing models, a more conservative approach is advisable.
Disclaimer
In accordance with Trust Project policies, this pricing analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy and Disclaimers have been updated.
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