The recently approved spot Bitcoin (BTC) exchange-traded funds (ETFs) now collectively hold 95,000 Bitcoin after six full days of trading, with assets under management (AUM) approaching $4 billion.
In data disclosed by Eric Balchunas, a senior ETF analyst at Bloomberg, the capital influx into the recently launched ETFs has surpassed the outflows from the Grayscale Bitcoin Trust (GBTC). GBTC’s assets under management have decreased by $2.8 billion in the first six days of trading.
Among the ETFs, Fidelity’s (FBTC) and BlackRock's iShares Bitcoin Trust (IBIT) have both had over $1.2 billion in inflows. Although FBTC has slightly higher inflows, IBIT currently has more AUM, with $1.4 billion compared to Fidelity’s nearly $1.3 billion.
LATEST: Despite $GBTC seeing a -$590m outflow gash friday, The Nine overwhelmed it w/ +$623m (3rd best day), $IBIT & $FBTC both >$200m while $BTCO & $HODL had their best hauls to date. TOT NET FLOWS stand at +$1.2b as Nine's aum hit $4b vs GBTC's -$2.8b, upping aum share to 14%. pic.twitter.com/nB57H8Ro8s
— Eric Balchunas (@EricBalchunas) January 20, 2024
Invesco’s ETF came in third and has maintained steady growth. Friday, Jan. 19, marked its best day for inflows, attracting over $63 million, although its total assets under management have not surpassed the $200 million mark. VanEck’s ETF also had its best day for inflows on Friday, pushing its total assets under management beyond $100 million.
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On their fifth trading day, the BTC ETFs netted a combined $440 million in Bitcoin from investors, according to data gathered by X (formerly Twitter) account CC15Capital on Jan. 17.
BlackRock’s IBIT led the way with 8,700 BTC, valued at nearly $358 million. The data revealed that nine ETFs, excluding Grayscale, acquired almost 68,500 BTC, valued at around $2.8 billion, since their inception.
Meanwhile, on Jan. 18, Balchunas shared data emphasizing the “Newborn Nine” — his term for the new spot Bitcoin ETFs excluding GBTC — experienced a 34% increase in daily trading volume by the fifth day of trading.
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