🔥🔥🔥 #BitcoinETFs buy 95,000 BTC as assets under management hit $4 billion
The "Newborn Nine" Bitcoin ETFs have amassed a combined total of 95,000 BTC, with assets under management (AUM) approaching $4 billion, as indicated by available data.
Bloomberg ETF analyst Eric Balchunas emphasizes the substantial capital influx, showcasing the increasing investor appetite for digital assets and the growing acceptance of #cryptocurrencies in mainstream finance. Notably, these ETFs have defied the typical drop in trading volume after launch, with a 34% increase on the fifth day of trading.
In the $1 billion club, BlackRock's IBIT and Fidelity's FBTC lead in growth, each attracting over $1.2 billion and holding slightly over 30,000 Bitcoin. While Fidelity's FBTC has higher inflows, BlackRock's IBIT leads in AUM with $1.4 billion compared to Fidelity's nearly $1.3 billion. Other noteworthy ETFs, including Invesco's and VanEck's, have demonstrated significant growth, breaking the $100 million mark in AUM within days.
Additional ETFs, such as Valkyrie Investments and Franklin Templeton, report AUM at $71.7 million and $48.6 million, respectively, as of Jan. 19. WisdomTree has yet to surpass the $10 million mark. Notably, this capital influx into new Bitcoin ETFs has surpassed outflows from the Grayscale Bitcoin Trust (#gbtc ), which experienced a $2.8 billion decrease in AUM during the same period.
GBTC witnessed a reduction in spot Bitcoin shares, losing $1.62 billion in the first four days. This shift suggests investor preference for the new ETFs, attributed to their regulatory clarity and accessibility, despite Bitcoin's volatility and recent sell-off.
Source - cryptoslate.com
