The second-day performance of Bitcoin Spot ETFs after their approval has finally been revealed.
Following the historic approval of Bitcoin Spot ETFs by the US Securities and Exchange Commission (SEC), their second-day performance revealed promising growth in the sector.
Bloomberg analysts Eric Balchunas and James Seyffart shared data on fund flows into Bitcoin Spot ETFs, providing valuable insight into market dynamics.
There was a huge outflow of 579 million dollars from GBTC
Balchunas reported that nine newly launched Bitcoin Spot ETFs, dubbed “Nine Newborns,” received over $1.4 billion in new cash in two days. This inflow suppressed the $579 million outflow from Grayscale Bitcoin Trust (GBTC), resulting in a net total of $819 million.
iShares' (BlackRock) Bitcoin ETF (IBIT) leads the way with half a billion dollars in inflows, followed closely by Fidelity's Bitcoin ETF (FBTC). Newborn ETFs also showed impressive trading volumes, with $3.6 billion traded across 500,000 individual transactions (1.2 million including GBTC).
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
