On-chain analytics firm Arkham Intelligence has identified four Bitcoin (BTC) exchange-traded products (ETPs) addresses. This latest discovery takes the number of exchange-traded fund (ETF) providers whose BTC addresses are known to five.
Arkham Intelligence has identified the addresses of products BlackRock, Bitwise, Fidelity, and Franklin Templeton offers.
BTC ETF Providers May Fear Public Exposure
The data reveals that Fidelity holds $1.21 billion of BTC in the Fidelity Wise Origin Bitcoin Fund with the custodian Fidelity Digital Asset Services LLC. BlackRock, Bitwise, and Franklin Templeton hold $1.16 billion, $422.68 million, and $47.09 million worth of BTC on the Coinbase Prime Custody Platform.
Coinbase is the custodian for eight of the 11 Bitcoin ETFs, which some have called a concentration risk. A custodian holds the private keys that give address owners the ability to move their BTC. Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, is the custodian for the VanEck Bitcoin Trust.
Read more: What Is a Bitcoin ETF?
In February last year, the US Securities and Exchange Commission proposed new rules for crypto custodians. It plans to roll out these rules later this year.
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Author: David Thomas
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