New BTC ETFs: $9.5B AUM, BlackRock’s IBIT Outperforms GBTC

With the exception of Grayscale’s converted GBTC fund, the nine newly established spot bitcoin exchange-traded funds currently have more than 200,000 BTC +6.22% in assets under management after less than a month of trading.

As of yesterday’s closing, the nine new ETFs had accumulated 203,811 ($9.5 billion), according to K33 Research. BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW) are the ETFs that debuted on January 11.

New BTC ETFs: $9.5B AUM, BlackRock's IBIT Outperforms GBTC
Source: Mashable
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To put it into perspective, the recently established ETFs currently own close to 1% of the 21 million BTC total supply of bitcoin. That surpasses the 190,000 BTC held by software business MicroStrategy, the 66,465 BTC held by stablecoin issuer Tether, and the total amount of bitcoin mined by all public miners put together.

On the other hand, according to CoinGlass statistics, the assets held by Grayscale’s converted GBTC fund have decreased by about 25% since January 11 from around 619,000 BTC ($28.8 billion) to 469,000 BTC ($21.8 billion).

IBIT from BlackRock trades higher than GBTC from Grayscale on a positive day for inflows.

According to The Block’s data dashboard, on Thursday, trading volume for BlackRock’s IBIT exceeded that of Grayscale’s bitcoin fund, with $481.6 million generated as opposed to $373.9 million for GBTC. Yesterday’s trading volume of $246.6 million placed Fidelity’s FBTC in third place.

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A baby often needs five to ten years to come close to unseating the liquidity king or queens in a given category. IBIT outperformed GBTC and BITO in trade volume today in less than a month, according to Balchunas’ statement on Thursday.

According to The Block’s data dashboard, GBTC’s spot bitcoin ETF market share by trading volume has decreased significantly in recent days, more than halving from a peak of 63.9% on January 17 to 29.1% as of yesterday.

According to BitMEX Research, Thursday was a great day for inflows into the newborn nine as well, with $204.1 million and $128.3 million added to IBIT and FBTC, respectively. The four spot bitcoin ETFs had inflows of less than $100 million apiece, while GBTC saw withdrawals of $101.6 million, resulting in net inflows of $405 million for the day. As of right now, net flows have exceeded $2.1 billion.

Source: Trading View

Vetle Lunde, an analyst at K33 Research, claims that Thursday saw the largest daily net inflow of all bitcoin investment vehicles globally since January 2021. “Investment vehicles currently hold 4.52% of the circulating BTC supply,” he stated, referring to the 887,443 BTC in assets under control.

The Block’s pricing page indicates that the current price of bitcoin is $46,721. The price of bitcoin has increased by 4.3% in the previous 24 hours, 8% in the last week, and 10.7% year to date.

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