The nine recently approved spot Bitcoin exchange-traded funds in the U.S. are on track to surpass Grayscale Bitcoin Trust. BTC
+0.36%
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.
they also famous Yesterday’s net inflow was 6,965 Bitcoin. If this continues it will become bigger than GBTC.
Spot Bitcoin ETFs have proven to be a huge success in the US, with BlackRock’s IBIT offering recording daily inflows of $788.3 million on Tuesday. At this point, the integrated spot ETF generated nearly $10 billion in volume that day.
IBIT also recently surpassed MicroStrategy’s Bitcoin holdings, according to BitMEX Research.
At the same time, Flowdesk executives Reed Werbitt and Greg Guttas told The Scoop that these Bitcoin ETFs are kicking off “decades of buy-only TWAPs.”
In other news, the U.S. Securities and Exchange Commission (SEC) said yesterday that it would extend until next month the period to decide whether to approve trading options for BlackRock’s spot Bitcoin ETF.
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