Nine New Bitcoin ETFs Acquire 95,000 BTC in Six Days, Outperform Grayscale Bitcoin Trust
Summary:
After six days on the market, nine Bitcoin Exchange-Traded Funds (ETFs) now jointly own 95,000 Bitcoins, equating to almost $4 billion in managed assets. The influx into these new ETFs has surpassed the outflows from the Grayscale Bitcoin Trust (GBTC). Fidelity's ETF (FBTC) and BlackRock's iShares (IBIT) have particularly excelled among these funds, each attracting over $1.2 billion in inflows. On the fifth trading day alone, the ETFs attracted a net total of $440 million in Bitcoin investments and saw a 34% increase in daily trading volume.
After six full days on the market, nine freshly endorsed Bitcoin Exchange-Traded Funds (ETFs) now jointly possess 95,000 Bitcoins. This corresponds to assets under management (AUM) nearing the $4 billion mark, according to Eric Balchunas, a leading ETF analyst from Bloomberg. This influx into these newly inaugurated ETFs has outpaced withdrawals from the Grayscale Bitcoin Trust (GBTC), which has seen its managed assets shrink by $2.8 billion in the same period.
Fidelity’s ETF (FBTC) and BlackRock's iShares (IBIT) are among the standout performers from these new funds, each pulling in over $1.2 billion in investments in those six days. Despite Fidelity’s ETF attracting marginally greater input, BlackRock's fund presently administers a slightly larger pool of assets, holding $1.4 billion against Fidelity’s $1.3 billion nearly.
Invesco's ETF (BTCO) comes in as a solid third, maintaining stable growth. It recorded its peak day for capital inflows on Friday, pulling in over $63 million. However, its total managed assets have not yet crossed the $200 million threshold. Similarly, VanEck's ETF (HODL) logged its highest inflow of investment so far, pushing its total managed assets over the $100 million line.
According to data from X (previously Twitter) account CC15Capital on Jan. 17, in the fifth trading day alone, the nine funds collectively attracted a net total of $440 million in Bitcoin investments. BlackRock's ETF led the pack, gaining 8,700 BTC, equivalent to nearly $358 million. The data shows that, not counting Grayscale, these nine ETFs collectively procured roughly 68,500 BTC, worth approximately $2.8 billion, since they were established.
On Jan. 18, Balchunas provided data underlining that the "Newborn Nine"—his term for the recently established Bitcoin spot ETFs, excluding GBTC—saw a 34% increase in their daily trading volume by their fifth day.
Published At
1/21/2024 2:01:31 PM
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