Spot Bitcoin ETFs Excluding GBTC Have Bought BTC Worth $2.8 Billion Since Launch

The US-listed spot Bitcoin exchange-traded funds (ETFs) have cumulatively purchased about 68,500 Bitcoin (BTC) since their launch, valued at $2.8 billion, based on information supplied by X account CC15Capital. Notably, the info doesn’t embrace numbers for the Grayscale Bitcoin Belief (GBTC), which continued to see outflows on the fifth buying and selling day.

The information additionally confirmed that spot Bitcoin issuers noticed their Bitcoin holdings rise by one other 10,667 BTC on Day 5 of buying and selling — value over $440 million at Bitcoin’s present worth. BlackRock’s ETF, iShares Bitcoin Belief (IBIT), led the acquisition race, including 8,700 BTC, valued at roughly $358 million.

Notably, Bitcoin has been below super promoting strain as GBTC continues to see outflows. Merchants pulled $580 million out of GBTC on the fifth buying and selling day, CoinGape News reported. Grayscale’s Bitcoin ETF has seen outflows of over $2 billion since its launch on Jan 11, based on information compiled by BitMEX Analysis.

Bitcoin ETF Commerce Volumes Jumped 34% on Day 5

In the meantime, based on Bloomberg senior ETF analyst Eric Balchunas, the “New child 9” — a time period he makes use of to seek advice from the 9 spot Bitcoin ETFs excluding GBTC — noticed a 34% rise in commerce volumes on Day 5. “Usually with a hyped-up launch you see quantity steadily lower every day post-launch, uncommon to see it reverse again up,” Balchunas mentioned in an X submit.

In a separate X submit, Bitcoin Journal identified that spot Bitcoin ETFs run by BlackRock, Constancy, and Bitwise had been among the many prime 10 most-traded ETFs within the US over the previous week. Moreover, the asset measurement of Grayscale and Constancy’s Bitcoin ETFs had surpassed $1 billion on the shut of buying and selling on Jan 18, based on Bloomberg ETF analyst James Seyffart.

Bitcoin Vaults Previous Silver in ETF Market

CoinGape News reported earlier that bitcoin ETFs, which had been accredited within the US simply final week, have already amassed $27.5 billion in property. By comparability, Silver ETFs have $11 billion in property below administration (AUM) whereas Gold ETFs have $96 billion in AUM.

Pushed by the optimism round Bitcoin ETFs, crypto funding merchandise saw inflows of round $1.2 billion within the second week of January, information from CoinGlass confirmed.

Additionally Learn: Cathie Wood & Elon Musk Bullish On Bitcoin, Ark Buys More ARKB ETF With BITO Holdings

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