Updated: March 8, 2024 7:04 AM EST
The spot Bitcoin exchange-traded fund recently listed in the U.S. continues to suck up Bitcoin and currently holds about 4% of the total 21 million Bitcoin. BTC
+0.57%
Total net inflows into US-listed spot Bitcoin ETFs yesterday were $472.6 million. data From BitMEX Research. At the same time, Fidelity’s FBTC Spot Bitcoin ETF recorded daily net inflows of $473.4 million, a record high. In contrast, Grayscale’s GBTC high-cost fund recorded net outflows of $374.8 million per day.
Additionally, the total net asset value of all spot Bitcoin ETFs reached over $54 billion, with cumulative net inflows reaching $9.37 billion.
This latest data means that spot Bitcoin ETFs currently hold over 4% of the total supply of the major cryptocurrency. highlighted Written by Dragonfly data analyst known as hildobby.
Additionally, nine new spot Bitcoin ETFs, dubbed the “newborn nine,” are on pace to hold more Bitcoin than Grayscale’s converted GBTC fund by the end of today’s US market session.
According to Vetle Lunde, senior analyst at K33 Research, GBTC holds 400,186 bitcoins as of yesterday, while the “Newborn 9” US Spot Bitcoin ETF holds 397,847 coins.
In related news BlackRock plans to purchase its own spot Bitcoin ETF and other Bitcoin ETFs through its Global Allocation Fund, which holds close to $18 billion in assets.
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