Crypto ETFs Amass Over 300,000 BTC in Less Than Two Months
Less than two months after trading began, the nine newborn spot bitcoin exchange-traded funds now hold more than 300,000 BTC in assets under management — excluding Grayscale’s converted GBTC fund.
According to K33 Research, the nine new ETFs had amassed 303,002 BTC ($17 billion) as of yesterday’s close. Launching on Jan. 11, these ETFs are BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark Invest 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 1.5% of bitcoin’s total supply of 21 million BTC. That’s more than software company MicroStrategy’s 193,000 BTC, over four times stablecoin issuer Tether’s 66,465 BTC, and more than all public bitcoin miners combined.
BlackRock and Fidelity Lead the Pack
BlackRock’s IBIT spot bitcoin ETF leads with over 128,000 BTC ($7 billion) in assets under management, with Fidelity’s FBTC the second-highest among the new funds at more than 94,000 BTC ($5 billion), according to BitMEX Research data.
Total Net Inflows Top $6 Billion
Total net inflows across all the U.S. spot bitcoin ETFs hit more than $6 billion after registering nearly $520 million in net inflows yesterday alone — the highest in two weeks, per BitMEX Research.
Fidelity’s FBTC led Monday’s inflows, adding $243.3 million, with Ark Invest 21 Shares’ ARKB in second place, generating $130.6 million worth of inflows yesterday. BlackRock’s usually dominant IBIT ETF slipped to third place by inflows on Monday, registering $111.8 million.
Meanwhile, Grayscale’s higher-fee converted GBTC product witnessed its lowest outflows since launch day, with just $22.4 million exiting the fund — around half the prior trading day’s outflows and a fraction of the total $7.5 billion in outflows it has seen so far.
New ETFs Set Volume Record
As The Block previously reported, the newborn nine also set a daily record day in terms of volume yesterday. The $2.4 billion in trading, led by BlackRock’s ETF passing the $1 billion mark, was enough to eclipse the previous daily record set on the first day the instruments traded.
“It’s official… The new nine bitcoin ETFs have broken all-time volume record today with $2.4 billion, just barely beating day one, but about double their recent daily average,” Bloomberg Senior ETF Analyst Eric Balchunas posted on X.
Hot Take: Bitcoin Soars 10% in 24 Hours
Bitcoin is currently trading at $56,519, according to The Block’s price page. Bitcoin’s price has gained more than 10% over the past 24 hours and is now up around 34% year-to-date.
In summary, here are the key points:
– Nine newborn spot bitcoin exchange-traded funds hold more than 300,000 BTC in assets under management.
– BlackRock’s IBIT leads with over 128,000 BTC in assets, followed by Fidelity’s FBTC with over 94,000 BTC.
– Total net inflows across all U.S. spot bitcoin ETFs have surpassed $6 billion.
– The newborn ETFs set a daily volume record of $2.4 billion, beating the previous record on their first day of trading.
– Bitcoin’s price has surged more than 10% in the past 24 hours, reaching $56,519.
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