- The long-awaited spot Bitcoin ETFs have launched and seen huge inflows, amassing nearly 100,000 BTC and $4 billion in assets in just days. Fidelity and BlackRock’s ETFs have attracted over $1.2 billion each.
- In their first 5 days, the Bitcoin ETFs acquired a combined $2.8 billion worth of Bitcoin, nearly 68,500 BTC, mostly draining investments from Grayscale.
- Trading volume for the new ETFs has steadily increased, with a 34% bump in average daily volume by the 5th day. The ETFs are off to a hot start rapidly accumulating assets.
The long-awaited spot Bitcoin exchange-traded funds (ETFs) have finally launched, amassing nearly 100,000 BTC just days into trading. Investor enthusiasm for this new regulated crypto investment vehicle has propelled their assets under management (AUM) to around $4 billion.
Fidelity and BlackRock Lead Inflows
Among the new ETFs, Fidelity’s FBTC and BlackRock’s iShares Bitcoin Trust (IBIT) have seen the most inflows, attracting over $1.2 billion each. Although FBTC has slightly higher total inflows, IBIT currently has the most AUM at $1.4 billion compared to Fidelity’s nearly $1.3 billion.
Invesco’s ETF came in third, steadily growing and marking its best day for inflows on Friday with over $63 million. VanEck’s ETF also saw record inflows on Friday, pushing its AUM above $100 million.
Nearly $3 Billion in Bitcoin Acquired
On their fifth day of trading, the Bitcoin ETFs netted a combined $440 million in Bitcoin from investors, per data from @CC15Capital. In total, excluding Grayscale, the ETFs have acquired almost 68,500 BTC valued around $2.8 billion since launching.
Trading Volume Increasing
Data from Bloomberg’s Eric Balchunas shows the “Newborn Nine” ETFs saw a 34% bump in average daily trading volume by their fifth day. The new spot Bitcoin ETFs are off to a hot start, rapidly accumulating assets in their first week while draining investments from Grayscale’s trust.
