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According to Blockworks, ten spot bitcoin ETFs were launched on January 11, and two funds have distinguished themselves in terms of net inflows: BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC). The BlackRock offering reached $1 billion in assets after four days of trading, while Fidelity’s fund hit the milestone on its fifth trading day. IBIT and FBTC had about $1.2 billion and nearly $1.1 billion in net inflows, respectively, after Thursday, according to Bloomberg Intelligence data. The two funds each have more than $2 billion in trading volumes since launching.

Yahoo Finance data indicated that IBIT saw an additional $430 million or so in trading volumes on Friday, while Fidelity’s fund hit Friday trading volumes totaling roughly $415 million. Robert Mitchnick, BlackRock digital assets head, told Blockworks in an email that this is just the beginning and they have a long-term commitment focused on providing investors access to an iShares quality ETF.

Other funds, such as Bitwise’s spot bitcoin ETF, were closing in on $400 million of inflows entering Friday, while a product by Ark and 21Shares had eclipsed inflows of $300 million. The Invesco Galaxy Bitcoin ETF (BTCO) had roughly $190 million of assets after five days on the market. Net inflows for a fund by crypto specialist Valkyrie have so far edged those seen by a product from traditional finance giant Franklin Templeton. VanEck and WisdomTree have seen the lowest levels of inflows thus far.

Grayscale Investments’ Bitcoin Trust ETF (GBTC) has seen about $2.2 billion of outflows so far, according to Bloomberg Intelligence data. GBTC had about $28 billion in assets upon the conversion, but that level has come down amid outflows due to its 1.5% fee, which is well above the other ETFs with fees between 0.19% and 0.39%. John Hoffman, Grayscale’s managing director of sales and distribution, called GBTC a leading risk transfer vehicle that has dominated spot bitcoin ETF volumes, with trading volumes totaling roughly $7.7 billion after five days of trading.