- Nine new spot bitcoin ETFs have amassed over 150,000 BTC ($6.5 billion) in assets under management, showing a shift away from Grayscale as the sole bitcoin investment provider.
- The new ETFs like BlackRock’s IBIT and Fidelity’s FBTC are seeing rapid inflows, while Grayscale’s GBTC is seeing major outflows. GBTC’s market share and trading volume have nearly halved.
- BlackRock’s US ETF has surpassed the assets under management of all Canadian bitcoin ETFs combined, reaching 56,621 BTC ($2.5 billion). Fidelity’s ETF is also nearing the same milestone.
The nine new spot bitcoin exchange-traded funds (ETFs) have now amassed more than 150,000 BTC ($6.5 billion) in assets under management, excluding Grayscale‘s converted GBTC fund. These rapid inflows highlight a shift away from Grayscale as the sole provider of bitcoin investment vehicles.
What’s Happening in the ETF Space
The new spot bitcoin ETFs are BlackRock‘s IBIT, Fidelity‘s FBTC, Bitwise’s BITB, Ark’s ARKB, Invesco‘s BTCO, VanEck’s Valkyrie’s BRRR, Franklin Templeton’s EZBC, and WisdomTree’s BTCW. Together they held 150,846 BTC as of Monday, up from 47,652 BTC on Jan. 16. This excludes GBTC which has seen its assets under management fall by 126,482 BTC ($5.5 billion) since the ETFs launched on Jan. 11.
GBTC‘s market share by trading volume has also nearly halved from its peak of 63.9% on Jan. 17 to 36.4% in recent days. The cumulative volume for the new ETFs stands at over $25 billion.
Net Inflows Return for Spot Bitcoin ETFs
Total net inflows for spot bitcoin ETFs returned to more than $1 billion on Monday, recovering after four days of net outflows last week. The new ETFs have registered $6.25 billion of inflows while GBTC has seen $5.23 billion of outflows.
On Monday, daily inflows for Fidelity’s FBTC and BlackRock’s IBIT surpassed GBTC’s outflows for the first time. FBTC saw $2.082 million of inflows and IBIT saw $1.984 million, compared to GBTC’s $1.917 million of outflows.
BlackRock ETF Surpasses Canadian ETF Assets
BlackRock’s US spot bitcoin ETF surpassed the assets under management of all Canadian bitcoin ETFs combined on Monday, reaching 56,621 BTC (worth around $2.5 billion).
The AUM of all Canadian bitcoin ETFs stands at 55,016 BTC ($2.4 billion). Fidelity’s US ETF FBTC is also nearing the same milestone with 51,064 BTC as of Monday.
