New Spot Bitcoin ETFs Amass Over 200,000 BTC in Less Than 30 Days
In a significant development, the new spot Bitcoin exchange-traded funds (ETFs) from BlackRock, Fidelity, Ark 21Shares, Invesco, Bitwise, Valkyrie, Franklin Templeton, WisdomTree, and VanEck have collectively accumulated over 200,000 BTC in assets under management within just a month of their launch. This reflects growing investor confidence and interest in Bitcoin as an asset class.
Market Leaders in the New Spot ETF Era
Among these new spot ETFs, BlackRock’s IBIT and Fidelity’s FBTC stand out as the leaders. IBIT holds over 80,000 BTC ($3.7 billion), while FBTC manages more than 68,000 BTC ($3.2 billion). These figures position them at the forefront of the market.
Notable Performance and Trading Volume
Bloomberg ETF analyst Eric Balchunas highlighted the rapid ascent of these spot ETFs in a market traditionally dominated by established players. The trading volume of these new ETFs is also noteworthy. BlackRock’s IBIT recently outperformed Grayscale’s spot Bitcoin ETF in daily trading volume. IBIT saw $301 million on Thursday, exceeding GBTC’s $290 million. Fidelity’s FBTC secured the third spot with a trading volume of $170 million.
Bitcoin Latest Price Action
This influx of investment into spot Bitcoin ETFs coincides with a bullish trend in Bitcoin’s market value. Recently, Bitcoin has been trading above $47,000 and approaching its previous high of $48,000 in January.
Growing Mainstream Acceptance
The notable performance of these new spot ETFs and the concurrent rise in Bitcoin’s value indicate the growing mainstream acceptance of cryptocurrencies as viable investment vehicles. This is further supported by the strong daily net inflow to BTC investment vehicles globally, reaching its highest level since January 2021.
Source: Vetle Lunde on Twitter
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