Spot Bitcoin ETFs Amass Over 200,000 BTC in Less Than One Month of Trading
After less than one month of trading, the nine newborn spot bitcoin exchange-traded funds now hold more than 200,000 BTC in assets under management. According to K33 Research, the nine new ETFs had amassed 203,811 BTC ($9.5 billion) as of yesterday’s close. Launching on Jan. 11, these ETFs are BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW).
To put that into context, the newborn ETFs now hold nearly 1% of bitcoin’s total supply of 21 million BTC. That’s more than software company MicroStrategy’s 190,000 BTC, over three times stablecoin issuer Tether’s 66,465 BTC and more than all public bitcoin miners combined.
BlackRock’s IBIT Leads Among New ETFs
BlackRock’s IBIT spot bitcoin ETF leads with over 80,000 BTC ($3.7 billion) in assets under management, with Fidelity’s FBTC the second-highest among the new funds at more than 68,000 BTC ($3.2 billion), per data from BitMEX Research.
IBIT and FBTC’s holdings also lead the top 25 newborn ETFs overall after one month of trading, according to Bloomberg ETF analyst Eric Balchunas.
Grayscale’s GBTC Fund Loses Assets
In contrast, assets held by Grayscale’s converted GBTC fund have fallen by nearly 25% since Jan. 11, according to CoinGlass data.
BlackRock’s IBIT Trades More Than Grayscale’s GBTC
BlackRock’s IBIT surpassed Grayscale’s bitcoin fund in trading volume on Thursday, generating $481.6 million compared to GBTC’s $373.9 million, according to The Block’s data dashboard. Fidelity’s FBTC was in third with $246.6 million in trading volume yesterday.
Strong Inflows for New ETFs
The newborn nine also had a strong day for inflows on Thursday, with IBIT and FBTC adding $204.1 million and $128.3 million, respectively, per BitMEX Research. GBTC registered $101.6 million in outflows, and the remaining spot bitcoin ETFs witnessed less than $100 million of inflows each — leading to net inflows of $405 million for the day. Total net flows now stand at over $2.1 billion.
Hot Take: Bitcoin Investment Vehicles Experience Strong Inflows
Bitcoin investment vehicles globally experienced the strongest daily net inflow since January 2021, according to K33 Research analyst Vetle Lunde. “4.52% of the circulating BTC supply is currently held by investment vehicles,” he said — with 887,443 BTC in assets under management.
Bitcoin is currently trading at $46,721, gaining 4.3% over the past 24 hours, 8% over the last week, and 10.7% year-to-date.
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