US-listed Spot Bitcoin ETFs Acquire $2.8 Billion Worth of BTC
According to data from X account CC15Capital, spot Bitcoin exchange-traded funds (ETFs) listed in the US have collectively purchased approximately 68,500 BTC since their launch, valued at $2.8 billion. It’s important to note that these figures do not include the Grayscale Bitcoin Trust (GBTC), which has continued to experience outflows on the fifth trading day.
On Day 5 of trading, spot Bitcoin issuers saw their Bitcoin holdings increase by another 10,667 BTC, worth over $440 million at the current price of Bitcoin. Leading the acquisition race was BlackRock’s ETF, iShares Bitcoin Trust (IBIT), which added 8,700 BTC valued at roughly $358 million.
Bitcoin ETF Trade Volumes Rise by 34%
On Day 5, trade volumes for the “Newborn Nine” spot Bitcoin ETFs excluding GBTC experienced a 34% increase, according to Bloomberg senior ETF analyst Eric Balchunas. Balchunas noted that it is uncommon for trade volumes to reverse back up after an initial hype-driven launch.
Spot Bitcoin ETFs Among Top 10 Most-Traded ETFs in the US
In a separate report, it was highlighted that spot Bitcoin ETFs managed by BlackRock, Fidelity, and Bitwise ranked among the top 10 most-traded ETFs in the US over the past week. Additionally, Grayscale and Fidelity’s Bitcoin ETFs reached an asset size exceeding $1 billion by the end of trading on January 18.
Bitcoin Surpasses Silver in ETF Market
Bitcoin ETFs have already accumulated $27.5 billion in assets since their recent approval in the US. This surpasses the assets under management (AUM) of Silver ETFs, which stand at $11 billion, and approaches the AUM of Gold ETFs at $96 billion.
Hot Take: Bitcoin ETFs Gain Momentum, Attracting Billions in Investments
The launch of spot Bitcoin ETFs in the US has generated significant interest and investment. These ETFs have rapidly acquired billions of dollars’ worth of Bitcoin, outpacing traditional precious metals like silver. The increased trade volumes and inclusion among the top-traded ETFs demonstrate the growing popularity of Bitcoin as an investment asset. With crypto investment products also experiencing inflows, it is clear that the optimism surrounding Bitcoin ETFs is fueling further growth in the crypto market.
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