Connect with us

Hi, what are you looking for?


Bitcoin ETFs Rapidly Accumulate 95,000 BTC, Nearing $4 Billion AUM

In just six days of trading, the recently approved spot Bitcoin exchange-traded funds (ETFs) have collectively accumulated an impressive 95,000 BTC, with total assets under management (AUM) inching close to the $4 billion mark.

According to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, the inflow into these newly launched ETFs has now exceeded the outflows from the Grayscale Bitcoin Trust (GBTC).

Total net flows now stand at +$1.2 billion, Balchunas stated in his X post from Saturday.

LATEST: Despite $GBTC seeing a -$590m outflow gash friday, The Nine overwhelmed it w/ +$623m (3rd best day), $IBIT & $FBTC both >$200m while $BTCO & $HODL had their best hauls to date. TOT NET FLOWS stand at +$1.2b as Nine’s aum hit $4b vs GBTC’s -$2.8b, upping aum share to 14%.

— Eric Balchunas (@EricBalchunas) January 20, 2024

GBTC, which operates with notably higher fees than the other ETFs in the sector, saw its assets under management (AUM) fall by around $2.8 billion within the first six days of trading, causing concern among many in the Bitcoin community.

The GBTC outflows have long been expected to happen, with JPMorgan analysts saying as early as in November last year that outflows of at least $2.7 billion should be expected unless GBTC’s current fee of 200 basis points is lowered to around 50 basis points.

Fidelity and BlackRock’s Bitcoin ETFs Leading

Leading the pack among the ETFs are Fidelity’s (FBTC) and BlackRock’s iShares Bitcoin Trust (IBIT), amassing inflows of $1.28 and $1.23 billion, respectively.

Fidelity is known as one of the more crypto-friendly traditional finance firms in the US. This could be one reason behind the popularity of its Bitcoin ETF. Among other things, the firm has argued in a report that “Bitcoin is better than gold” when it comes to fulfilling specific requirements in an investment portfolio.

Invesco in Third Spot

Invesco’s ETF secured the third spot and has experienced consistent growth, achieving its best day for inflows on January 19 with over $63 million.

Despite this, its total AUM have yet to surpass the $200 million mark.

VanEck’s ETF also celebrated its best day for inflows on the same day, propelling its total AUM to over $100 million.

On Thursday last week, Balchunas shared data highlighting that the nine new BTC ETFs experienced a notable 34% increase in daily trading volume by the fifth day of trading.Top of Form

“Normally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up,” the experienced ETF analyst said at the time.

This is interesting, the Newborn Nine actually saw a 34% jump in volume today vs yesterday. Normally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up. All but one saw jump too but GBTC change flat so wasn’t a volatility…

— Eric Balchunas (@EricBalchunas) January 18, 2024

The post Bitcoin ETFs Rapidly Accumulate 95,000 BTC, Nearing $4 Billion AUM appeared first on Cryptonews.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Get your daily, bite-sized digest of blockchain and crypto news – investigating the stories flying under the radar of today’s news. In today’s crypto...


The amount of Bitcoin (BTC) held on Coinbase has plummeted by almost $1 billion worth of assets as whales move their holdings. New data...


Mumbai, the bustling financial hub of India, has introduced a metaverse initiative aimed at showcasing its latest and upcoming city-wide infrastructure megaprojects. Dubbed the Mumbai...


BlackRock, the world’s largest asset manager, has intensified its media advertising campaign for its recently launched iShares spot Bitcoin exchange-traded fund (ETF), framing the...


In an exclusive, gaming-focused interview with Cryptonews, the BLOCKLORDS game CEO David Johansson talked about the indestructible link between crypto and gaming. He told...


A recent study by a team of researchers from Europe and Asia explored the possibility of predicting positive outcomes in crypto market trading using...

You May Also Like

Financial Advisors


Financial Advisors


Financial Advisors


Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Respect Investment. All Rights Reserved.