Research Weekly - Who Owns Bitcoin ETFs?

March 05, 2024

IN TODAY'S ISSUE:A trading metric for bitcoin ETFs yields valuable insights into owners of ETFs. The collective turnover ratio of bitcoin ETFs is significantly influenced by Grayscale Bitcoin Trust (GBTC), which today holds the majority share of ETF assets (~60%). Turnover Ratio Higher Than Gold ETFs, But Age May Hold the KeyWe also analyzed the overall turnover ratio of bitcoin ETFs compared to gold ETFs. It is plausible that over time, the turnover ratio for bitcoin ETFs may align more closely with that of the gold ETFs. Bitcoin ETFs Turnover Converging with the Launch of GLDWhen comparing the turnover ratios of GLD and bitcoin ETFs at a similar stage in their lifespan, we notice that bitcoin ETFs initially had a lower turnover ratio than GLD but are gradually converging with GLD.

The source of this news is from NYDIG