After less than a month of trading, the nine newly launched Spot Bitcoin ETFs now hold more than 200,000 BTC in assets under management – not including Grayscale's converted GBTC fund.
According to K33 Research, 9 new ETFs had accumulated 203,811 ($9.5 billion) as of yesterday's close.
Launched on January 11, these #ETF funds are BlackRock (IBIT), #Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW).
To put this into perspective, newly launched ETFs currently hold nearly 1% of Bitcoin's total supply of 21 million BTC. That's more than software company MicroStrategy's 190,000 BTC, three times more than stablecoin issuer Tether's 66,465 BTC, and more than all public Bitcoin miners combined.
#BlackRock 's Spot Fund #BitcoinETF IBIT leads the way with over 80,000 BTC ($3.7 billion) in assets under management, with Fidelity's FBTC second highest among new funds with over 68,000 BTC ($3.2 billion), according to data from BitMEX Research.
According to Bloomberg ETF analyst Eric Balchunas, the holdings of IBIT and FBTC also lead the top 25 newly launched ETFs after a month of trading.
Balchunas said:
“Here is a list of the top 25 ETFs by assets after one month on the market (out of a total of 5,535 funds launched in 30 years).
IBIT and FBTC are in league with over $3 billion each and there are still two days left. ARKB and BITB also made the list.”
In contrast, assets held by Grayscale's convertible GBTC fund have dropped nearly 25% from about 619,000 BTC ($28.8 billion) to 469,000 BTC ($21.8 billion) since January 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. Fidelity's FBTC ranked third with a trading volume of 246.6 million USD yesterday.
Balchunas said:
“Typically, it takes 5-10 years for a young project to come close to toppling the liquidity king(s) of a category. IBIT did it in less than a month – trading more than both GBTC and BITO today.”
GBTC's Spot Bitcoin ETF market share by trading volume has continued to decline in recent days, falling by more than half from a peak of 63.9% on January 17 to 29.1% as of yesterday.
Nine ETFs also had a strong day of inflows on Thursday, with IBIT and FBTC adding $204.1 million and $128.3 million, respectively, according to BitMEX Research.
GBTC recorded $101.6 million in outflows and the remaining Spot Bitcoin ETFs saw inflows of less than $100 million each – resulting in net inflows of $405 million on the day. Total net flows currently stand at more than $2.1 billion.
Across all Bitcoin investment vehicles globally, Thursday had the strongest daily net inflows 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. Bitcoin price has increased 4.3% in the past 24 hours, 8% in the last week and 10.7% year to date.
Source: https://tintucbitcoin.com/9-quy-spot-bitcoin-etf-tich-luy-duoc-200k-btc/
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