In what is certainly a sign of the investment products’ success, asset management firm Fidelity’s Spot Bitcoin ETF now holds more than $10 billion worth of BTC. Indeed, the firm’s holdings officially surpassed 150,000 BTC just three months after the investment vehicle gained US Securities and Exchange Commission (SEC) approval.
Altogether, the collection of approved Spot Bitcoin ETFs called the Newborn Nine collectively maintains more than 520,000 BTC in assets under management. Moreover, these investment products all received approval at the same time, showcasing just how rapidly they have ascended to this successful state.
Also Read: Fidelity Files for Spot Ethereum ETF With Staking
Fidelity Bitcoin ETF Holdings Now Exceed $10 Billion in BTC
Since the start of the year, the digital asset market has become one of the most important aspects of the financial sector. That interest has been driven by optimism deriving from Spot Bitcoin ETF approvals in January. Subsequently, the year set off with increased excitement over what the products could mean for the cryptocurrency sector in the mainstream.
Now, three months after trading first began, these products have been immensely successful. Indeed, that is seen in Fidelity’s Spot Bitcoin ETF, which officially holds more than $10 billion worth of BTC. Those holdings are all the more impressive when considering the short time frame in question.
Also Read: Spot Bitcoin ETFs Already BlackRock & Fidelity’s Most Popular
According to the latest disclosure, the asset manager FBTC holds a total of 150,563 BTC, equal to $10.1 billion. Moreover, they have not been the only successful Spot Bitcoin ETF of the newly launched products. BlackRock’s IBIT leads all firms with 263,937 BTC—worth $18.5 billion—assets under management.
Alternatively, Ark Invest 21Shares maintains the next highest holdings with more than 43,000 BTC, according to CoinGlass. When these are all combined, US Spot Bitcoin ETFs hold more than 842,000 BTC. Moreover, that figure equals 4% of the total 21 million supply of Bitcoin.
The development will become increasingly interesting this month. Specifically, the industry will observe the highly anticipated Bitcoin Halving Event. Currently, it is slated to take place on April 19th. Subsequently, it will see the entire BTC supply cut in half. Its presence should only increase the value of Bitcoin quite significantly.
