In just six trading days, Spot Bitcoin ETFs have collectively amassed an impressive 95,000 BTC, outpacing the outflows from the Grayscale Bitcoin Trust (GBTC).
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Fidelity’s FBTC and BlackRock’s iShares Bitcoin Trust (IBIT) stand out as the frontrunners in attracting inflows, each securing over $1.2 billion. IBIT holds a slight edge in assets under management, boasting $1.4 billion compared to FBTC’s $1.3 billion.
Invesco’s ETF experienced its most significant day for inflows on Friday, January 19, drawing in over $63 million. VanEck’s ETF also had a robust Friday, pushing its total assets under management beyond the $100 million mark. Meanwhile, Grayscale’s GBTC witnessed $590 million in outflows on Friday, bringing the total outflows since its conversion to a spot Bitcoin ETF to $2.8 billion. Despite this, the overall net flows remain positive at $1.2 billion, as other spot Bitcoin ETFs attracted $4 billion in funds, likely due to their lower fees compared to GBTC.
On their fifth trading day last Thursday, Bitcoin ETFs saw a combined influx of $440 million in Bitcoin from investors. BlackRock’s IBIT took the lead with 8,700 BTC, valued at nearly $358 million. Excluding Grayscale, nine ETFs have acquired almost 68,500 BTC, valued at around $2.8 billion, since their inception. Meanwhile, the remaining spot Bitcoin ETFs witnessed a notable 34% increase in daily trading volume by the fifth day of trading.
The successful approval and launch of spot Bitcoin ETFs mark a highly anticipated milestone, indicating a burgeoning institutional interest and demand for regulated Bitcoin investment products. Despite Bitcoin (BTC) experiencing a 2.53% dip over the past week, it is currently trading at $41,250.