Spot Bitcoin ETFs Surge: 95,000 BTC Accumulated in 6 Days, Outpacing Grayscale Outflows

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).

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.


Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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