Bitcoin ETFs amass close to $4 billion in assets under management

Bitcoin ETFs Accumulate 95,000 BTC in Six Days

Within just six days of trading, the nine approved spot Bitcoin ETFs have accumulated a total of 95,000 bitcoin. This brings the total value of their assets under management to nearly $4 billion.

Inflows Outpace Outflows from Grayscale Bitcoin Trust

Early numbers show that the capital inflows into the new ETFs have surpassed the outflows from the Grayscale Bitcoin Trust (GBTC). Over the same six-day period, GBTC has seen a decline in assets under management by $2.8 billion.

Fidelity and BlackRock’s ETFs Lead the Pack

Among the nine ETFs, Fidelity’s FBTC and BlackRock’s iShares (IBIT) have emerged as frontrunners. Both have received over $1.2 billion in inflows during the six days of trading. While Fidelity’s ETF has slightly higher inflows, BlackRock’s currently manages slightly more assets with $1.4 billion compared to Fidelity’s nearly $1.3 billion.

Invesco and VanEck Show Consistent Growth

Invesco’s ETF (BTCO) holds the third position and has experienced consistent growth. On Friday, it recorded its highest daily inflow of over $63 million. However, its total assets under management have not yet crossed the $200 million mark. VanEck’s ETF (HODL) also had a strong day for inflows, pushing its total assets under management above $100 million.

High Trading Volume for Spot Bitcoin ETFs

Friday witnessed the third-highest trading volume among spot bitcoin ETFs so far. Data from The Block indicates that GBTC captured the majority of this volume.

Hot Take: Bitcoin ETFs Gain Traction, Surpassing GBTC Inflows

The introduction of spot Bitcoin ETFs has been met with great enthusiasm, as demonstrated by the significant accumulation of bitcoin and inflows of capital. This surge in popularity has outpaced the outflows from the Grayscale Bitcoin Trust. Fidelity and BlackRock’s ETFs have emerged as frontrunners, attracting billions of dollars in assets under management. Additionally, Invesco and VanEck have shown consistent growth, further solidifying the success of these new investment vehicles. With high trading volumes and increasing adoption, Bitcoin ETFs are undoubtedly gaining traction in the crypto market.