Less than two months after trading began, nine newly created spot Bitcoin exchange-traded funds now hold more than 300,000 units. BTC
+10.88%
Assets under management – excluding Grayscale’s converted GBTC funds.
According to K33 Research, the nine new ETFs had amassed 303,002 BTC ($17 billion) as of yesterday’s close. ETFs launching on January 11 include BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark Invest 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), and Franklin Templeton (EZBC). There is this. ) and WisdomTree (BTCW).
To put this in context, the newly created ETF now holds almost 1.5% of Bitcoin’s total supply of 21 million BTC. This is more than four times the 193,000 BTC of software company MicroStrategy, 66,465 BTC of stablecoin issuer Tether, and more than all public Bitcoin miners combined.
Bitcoin held by new ETF. Image: K33 Research.
BlackRock’s IBIT Spot Bitcoin ETF leads with more than 128,000 BTC ($7 billion) in assets under management, while Fidelity’s FBTC is second among new funds with more than 94,000 BTC ($5 billion), according to BitMEX Research data. It’s high.
By contrast, assets held by Grayscale’s converted GBTC fund have fallen more than 28% since January 11, from about 619,000 BTC ($35 billion) to 444,000 BTC ($25 billion), according to CoinGlass data.
Grayscale Bitcoin holdings. Image: Coinglass.
Total net inflows exceeded $6 billion.
Total net inflows across U.S. spot Bitcoin ETFs hit more than $6 billion after recording net inflows of about $520 million yesterday alone. This is the highest level in two weeks, according to BitMEX Research.
Fidelity’s FBTC led inflows on Monday, adding $243.3 million, while Ark Invest 21 Shares’ ARKB came in second, generating $130.6 million worth of inflows yesterday. BlackRock’s usually dominant IBIT ETF fell to third place with Monday’s inflows of $111.8 million.
Meanwhile, Grayscale’s high-cost convertible GBTC product recorded its lowest outflow since its launch date. Just $22.4 million flowed out of the fund, about half of the previous trading day’s outflows and a fraction of the $7.5 billion total outflows seen so far.
As previously reported by The Block, the fledgling nine-member group also set a new daily record for trading volume yesterday. The $2.4 billion in transactions, which helped BlackRock’s ETF surpass the $1 billion mark, were enough to break the previous daily record set on the first day the product was traded.
“It’s official… the new 9 Bitcoin ETF broke its all-time trading volume record today at $2.4 billion, barely past its first day but still roughly double its recent daily average.” Bloomberg Senior ETF Analyst Eric Balchunas Posted At X.
According to The Block’s price page, Bitcoin is currently trading at $56,519. The price of Bitcoin has risen more than 10% in the last 24 hours and is now up about 34% since the beginning of the year.
BTC/USD price chart. Image: Block/TradingView.
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