Introduction
Following the launch of the United States' first spot bitcoin exchange-traded funds (ETFs), data has emerged regarding the number of bitcoins held by these funds. This article takes a closer look at the holdings of six new spot bitcoin ETFs, including Blackrock, Fidelity Wise Origin Bitcoin Fund, Bitwise Bitcoin Trust, Vaneck's HODL, Franklin Templeton's EZBC, and ARK 21shares Bitcoin ETF.
Blackrock's Holdings
Blackrock currently leads among all funds, excluding Grayscale's GBTC, with a substantial holding of 11,439 bitcoin. This represents 1.85% of Grayscale's extensive holdings.
Fidelity Wise Origin Bitcoin Fund
The Fidelity Wise Origin Bitcoin Fund (FBTC) holds a significant amount of bitcoin, with the latest update indicating ownership of 5,290 BTC.
Bitwise Bitcoin Trust
The Bitwise Bitcoin Trust (BITB) is likely in possession of 5,550 BTC, based on insights provided by bitcointreasuries.net user @girevik. However, the specific quantity of BTC is not officially detailed on the Bitwise web portal.
Vaneck's HODL
Vaneck's spot bitcoin ETF, named HODL, transparently displays its BTC holdings, revealing that the firm owns 1,640.92 BTC.
Franklin Templeton's EZBC
Franklin Templeton's ETF labeled EZBC maintains a bitcoin reserve, with the latest update indicating ownership of 1,131 BTC.
ARK 21shares Bitcoin ETF
The ARK 21shares Bitcoin ETF (ARKB) possesses an estimated 1,625 BTC, corresponding to an AUM of $75,833,696.
Comparison and Conclusion
Collectively, these six spot bitcoin ETFs have approximately 26,152 BTC in their possession, which translates to a value of $1.11 billion. However, this amount is relatively modest when compared to Grayscale's vast reserve of 617,079 BTC. Additionally, other non-U.S. exchange-traded products (ETPs) also surpass the newly introduced spot bitcoin ETFs in bitcoin holdings. It will be interesting to see how these holdings evolve and impact the cryptocurrency market in the future.
What are your thoughts on the assets held by the newly introduced spot bitcoin ETFs? Share your opinions in the comments section below.
Frequently Asked Questions
What Should Your IRA Include in Precious Metals?
The most important thing you should know when investing in precious metals is that they are not just for wealthy people. You don't have to be rich to invest in them. In fact, there are many ways to make money from gold and silver investments without spending much money.
You might also be interested in buying physical coins, such bullion rounds or bars. It is possible to also purchase shares in companies that make precious metals. Your retirement plan provider may offer an IRA rollingover program.
You'll still get the benefit of precious metals no matter which country you live in. They are not stocks but offer long-term growth.
And, unlike traditional investments, their prices tend to rise over time. This means that if you decide on selling your investment later, you'll likely get more profit than you would with traditional investing.
Is buying gold a good way to save money for retirement?
Although it may not look appealing at first, buying gold for investment is worth considering when you consider the global average gold consumption per year.
Physical bullion bar is the best way to invest in precious metals. There are many ways to invest your gold. The best thing to do is research all options thoroughly and then make an informed decision based on what you want from your investments.
For example, purchasing shares of companies that extract gold or mining equipment might be a better option if you aren't looking for a safe place to store your wealth. If you require cash flow, gold stocks can work well.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs typically include stocks from gold miners, precious metallics refiners, commodity trading companies, and other commodities.
Can I own a gold ETF inside a Roth IRA
A 401(k) plan may not offer this option, but you should consider other options, such as an Individual Retirement Account (IRA).
Traditional IRAs allow for contributions from both employees and employers. Another way to invest in publicly traded companies is through an Employee Stock Ownership Plan.
An ESOP is a tax-saving tool because employees have a share of company stock as well as the profits that the business generates. The money you invest in the ESOP will be taxed at a lower rate than if it were directly held by the employee.
A Individual Retirement Annuity is also possible. An IRA lets you make regular, income-generating payments to yourself over your life. Contributions made to IRAs are not taxable.
How to Open a Precious Metal IRA?
The first step in opening an Individual Retirement Account, (IRA), is to decide if it's something you want. If you do, you must open the account by completing Form 8606. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form should be filled within 60 calendar days of opening the account. You can then start investing once you have this completed. You can also contribute directly to your paycheck via payroll deduction.
You must complete Form 8903 if you choose a Roth IRA. Otherwise, the process will look identical to an existing IRA.
To be eligible for a precious metals IRA, you will need to meet certain requirements. The IRS states that you must be at least 18 and have earned income. Your annual earnings cannot exceed $110,000 ($220,000 if you are married and file jointly) for any tax year. Additionally, you must make regular contributions. These rules are applicable whether you contribute through your employer or directly from the paychecks.
An IRA for precious metals allows you to invest in gold and silver as well as platinum, rhodium, and even platinum. You can only purchase bullion in physical form. This means you can't trade shares of stock and bonds.
To invest directly in precious metals companies, you can also use precious metals IRA. This option is available from some IRA providers.
However, there are two significant drawbacks to investing in precious metals via an IRA. First, they are not as liquid or as easy to sell as stocks and bonds. This makes it harder to sell them when needed. Second, they are not able to generate dividends as stocks and bonds. So, you'll lose money over time rather than gain it.
What Does Gold Do as an Investment Option?
Supply and demand determine the gold price. Interest rates also have an impact on the price of gold.
Because of their limited supply, gold prices can fluctuate. You must also store physical gold somewhere to avoid the risk of it becoming stale.
Statistics
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- Contribution limits$6,000 (49 and under) $7,000 (50 and up)$6,000 (49 and under) $7,000 (50 and up)$58,000 or 25% of your annual compensation (whichever is smaller) (lendedu.com)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
External Links
irs.gov
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
cftc.gov
forbes.com
- Gold IRA, Add Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
How To
3 Ways to Invest Gold for Retirement
It is important to understand the role of gold in your retirement plan. You can invest in gold through your 401(k), if you have one at work. You may also be interested in investing in gold beyond your workplace. If you have an IRA (Individual Retirement Account), a custodial account could be opened at Fidelity Investments. Or, if you don't already own any precious metals, you may want to consider buying them directly from a reputable dealer.
These are three simple rules to help you make an investment in gold.
- Buy Gold with Your Money – You don't need credit cards, or to borrow money to finance your investments. Instead, instead, transfer cash to your accounts. This will help protect you against inflation and keep your purchasing power high.
- Physical Gold Coins to Own – Physical gold coin ownership is better than having a paper certificate. Physical gold coins can be sold much faster than paper certificates. Physical gold coins are also free from storage fees.
- Diversify Your Portfolio – Never put all of your eggs in one basket. Also, diversify your wealth and invest in different assets. This helps to reduce risk and provides more flexibility when markets are volatile.
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By: Jamie Redman
Title: Unveiling Bitcoin Reserves — A Deep Dive Into Holdings of 6 New Spot Bitcoin ETFs
Sourced From: news.bitcoin.com/unveiling-bitcoin-reserves-a-deep-dive-into-holdings-of-6-new-spot-bitcoin-etfs/
Published Date: Sun, 14 Jan 2024 16:30:07 +0000
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