Bitcoin ETFs See Record Four-Day Inflows, Four Join Billionaire Club
Summary:
Bitcoin spot exchange-traded funds (ETFs) have seen a surge in net inflows over the past four trading days, surpassing the total accumulated in the first four weeks. Ten spot Bitcoin ETFs attracted inflow worth $2.3 billion within four days. Among these funds, four including Bitwise's BITB joined the 'billionaire club' exceeding $1 billion in assets under management (AUM). WisdomTree's Bitcoin Trust, with $23 million AUM, remains the least successful. BlackRock's iShares became the first Bitcoin ETF surpassing $5 billion AUM, now holding over 105,000 Bitcoins.
Bitcoin spot exchange-traded funds (ETFs) have experienced an impressive surge in net inflows over the past four trading days, surpassing the total accrued in the first four weeks. Monitoring data from industry tracker Apollo shows that in just four days, ten spot Bitcoin ETFs pulled in a total of 43,300 Bitcoin, equivalent to approximately $2.3 billion. This is in stark contrast to the previous 20 days when these funds only managed to attract 42,000 Bitcoin.
In a noteworthy development, four Bitcoin spot ETFs, not including Grasyscale, have joined the "billionaire club". Bitwise, a crypto-centric investment firm, saw its Bitcoin ETF, the BITB, exceed this benchmark on February 14, 2024. Bitwise's accomplishment came after BlackRock's iShares Bitcoin fund, Fidelity's Wise Origin, and the Ark21 Shares fund managed by Cathie Wood.
Nate Geraci, the President of ETF Store, pointed out that Bitwise's performance stood out as "most impressive" and is the sole crypto-native investment agency among top contenders. Other ETFs, including offerings from Invesco, VanEck, Valkyrie, and Franklin Templeton, have yet to cross the $500 million assets under management (AUM) threshold.
Meanwhile, WisdomTree's Bitcoin Trust has had a less stellar performance, with a modest $23 million AUM, placing it at the bottom of the Bitcoin ETF list, based on Apollo’s stats. Additionally, as of February 13, BlackRock’s iShares ETF (IBIT) became the first Bitcoin ETF to break through the $5 billion AUM, now commanding 105,280 Bitcoin in total.
The influx in Bitcoin spot ETFs has created waves of optimism in the market, serving as a primary catalyst behind Bitcoin's latest surge, where it bypassed $50,000 on February 12.
Published At
2/15/2024 8:31:31 AM
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