Bitcoin ETFs Amass Over $1.2 Billion in Inflows in First Six Days of Trading
Overview
In the first six days of trading, Fidelity’s FBTC and BlackRock’s iShares Bitcoin Trust (IBIT) have attracted over $1.2 billion in inflows. The recently approved ETFs collectively hold 95,000 Bitcoin, with assets under management (AUM) getting close to $4 billion.
Inflows Surpass Outflows from Grayscale Bitcoin Trust (GBTC)
According to data disclosed by Eric Balchunas, senior ETF analyst at Bloomberg, the capital influx into the newly launched ETFs has exceeded the outflows from the Grayscale Bitcoin Trust (GBTC). GBTC’s assets under management have decreased by $2.8 billion in the first six days of trading.
AUM Comparison: FBTC vs. IBIT
Among the ETFs, both Fidelity’s FBTC and BlackRock’s IBIT have reported inflows of over $1.2 billion. While FBTC has slightly higher inflows, IBIT currently has more AUM, totaling $1.4 billion compared to Fidelity’s nearly $1.3 billion.
Invesco’s ETF and VanEck’s ETF Show Steady Growth
Invesco’s ETF secured the third position and has been experiencing steady growth. On January 19, it recorded its best day for inflows, attracting over $63 million. However, its total AUM has not yet surpassed the $200 million mark. Similarly, VanEck’s ETF achieved its best day for inflows on Friday, pushing its total AUM beyond $100 million.
BTC ETFs Attract $440 Million in Bitcoin on Fifth Trading Day
On the fifth trading day, the BTC ETFs collectively gained $440 million in Bitcoin from investors, according to data collected on January 17. BlackRock’s IBIT led the way, acquiring 8,700 BTC valued at nearly $358 million. In total, excluding Grayscale, the nine ETFs acquired around 68,500 BTC, valued at approximately $2.8 billion, since their inception.
Increased Daily Trading Volume for “Newborn Nine” ETFs
On January 18, Eric Balchunas shared data highlighting the “Newborn Nine” – the term he coined for the new spot Bitcoin ETFs excluding GBTC. The data indicated a 34% increase in daily trading volume by the fifth day of trading.
–Chief Editor–
Analyst comment
Positive news: Bitcoin ETFs Amass Over $1.2 Billion in Inflows in First Six Days of Trading
As an analyst, the market is expected to experience continued growth and interest in Bitcoin ETFs. The significant inflows from Fidelity’s FBTC and BlackRock’s IBIT, as well as the steady growth of Invesco’s and VanEck’s ETFs, suggest a positive market sentiment and potential for further investment. The increased daily trading volume also indicates growing retail participation in the “Newborn Nine” ETFs. Overall, the market is likely to see increased adoption of Bitcoin ETFs and a positive trajectory for Bitcoin prices.
