- Grayscale’s spot bitcoin ETF has seen the highest trading volume of the new spot bitcoin ETFs, but it has experienced significant outflows of over $500 million since launching.
- BlackRock’s spot bitcoin ETF has attracted over $400 million in inflows and is poised to overtake Grayscale as the top spot bitcoin ETF by trading volume and liquidity.
- Overall trading volume for the new spot bitcoin ETFs has been strong, totaling over $9 billion in the first 3 days, mirroring the successful launch of the first bitcoin futures ETF in October 2021.
Spot bitcoin ETFs, which began trading last week after gaining approval, have seen significant trading volume in their first few days on the market. Three ETFs offered by Grayscale, BlackRock, and Fidelity have emerged as the clear leaders.
Grayscale’s Spot Bitcoin ETF Leads in Volume But Sees Outflows
Grayscale’s spot bitcoin ETF has generated the highest trading volume among the new spot bitcoin ETFs. However, it has experienced considerable outflows of over $500 million since trading began, according to data from Bloomberg Intelligence.
BlackRock ETF Poised to Become “Liquidity King”
While Grayscale’s ETF has seen outflows, BlackRock’s spot bitcoin ETF has attracted over $400 million in inflows. Analyst Eric Balchunas predicts BlackRock’s fund will overtake Grayscale as the top spot bitcoin ETF by trading volume and liquidity.
Healthy Trading Volume for New Funds
Overall trading volume for the new spot bitcoin ETFs has been robust, totaling over $9 billion in the first three days. The strong launch mirrors the success of the first bitcoin futures ETF, BITO, in October 2021.
The new spot bitcoin ETFs have proven popular with investors looking for direct exposure to bitcoin prices. As trading continues, it will be interesting to see if Grayscale maintains its top position or if BlackRock takes over as the highest volume spot bitcoin ETF.