New spot cumulative trading volume Bitcoin BTC
-1.25%
Exchange-traded funds (ETFs) surpassed $50 billion on Thursday, six weeks after the U.S. Securities and Exchange Commission (SEC) began offering ETFs from BlackRock, Fidelity, Bitwise and others. Green light.
According to The Block’s data dashboard, cumulative trading volume for spot Bitcoin ETFs increased from $28.3 billion at the beginning of the month to $50.5 billion at the close of trading yesterday, following several weeks of high volume exceeding $2.5 billion on Tuesday. It has increased thanks to this.
Spot Bitcoin ETF trading volume on Thursday was $1.2 billion, led by BlackRock’s IBIT at $457.2 million, followed by Grayscale’s GBTC at $348.8 million and Fidelity’s FBTC at $348.8 million and $255.70, respectively. It was followed by $10,000.
Grayscale’s high-fee GBTC fund has gradually lost market share by trading volume, falling from 50.5% when the spot Bitcoin ETF launched on January 11 to 28.6% as of yesterday, consistent with continued daily outflows. BlackRock’s IBIT was a major beneficiary, growing its market share from 22.1% to 37.4% over the same period. Fidelity’s FBTC ranks third with 20.9% market share.
Spot Bitcoin ETFs returned to net inflows after net outflows on Wednesday.
Spot Bitcoin ETFs also returned with net inflows of $251.4 million on Thursday, after recording net outflows of $35.7 million on Wednesday. This is the first time since January 25, according to data from BitMEX Research.
Fidelity’s FBTC led the inflows yesterday, adding $158.9 million. BlackRock’s IBIT recorded inflows worth $125.1 million, while Grayscale’s GBTC recorded outflows worth $55.7 million. The remaining funds each generated inflows of less than $10 million. Total net flows now amount to approximately $5.3 billion.
9 newly created ETFs approach 300,000 BTC in AUM
In terms of Bitcoin holdings, excluding Grayscale’s converted GBTC fund, the nine newly created spot Bitcoin ETFs are quickly approaching 300,000 BTC, with assets under management of 292,615 BTC, or approximately $14 billion, according to BitMEX Research. It amounts to .
Meanwhile, assets held by Grayscale GBTC have decreased by more than 25%, from approximately 619,000 BTC on January 11 to 454,660 BTC ($24 billion) as of yesterday.
According to The Block’s price page, Bitcoin is currently trading at $51,207. The largest cryptocurrency by market capitalization is down 2% over the past week. However, it remains up 26.5% this month and 21% since the beginning of the year.
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