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, in response to information offered by X account CC15Capital. Notably, the info doesn’t embrace numbers for the Grayscale Bitcoin Trust (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 value. BlackRock’s ETF, iShares Bitcoin Trust (IBIT), led the acquisition race, including 8,700 BTC, valued at roughly $358 million.
- Bitcoin Holdings of Spot Bitcoin ETF Issuers As of December 18
Notably, Bitcoin has been underneath large promoting stress as GBTC continues to see outflows. Traders 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, in response to information compiled by BitMEX Research.
Bitcoin ETF Trade Volumes Jumped 34% on Day 5
Meanwhile, in response to Bloomberg senior ETF analyst Eric Balchunas, the “Newborn Nine” — a time period he makes use of to check with the 9 spot Bitcoin ETFs excluding GBTC — noticed a 34% rise in commerce volumes on Day 5. “Normally with a hyped-up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up,” Balchunas mentioned in an X put up.
In a separate X put up, Bitcoin Magazine identified that spot Bitcoin ETFs run by BlackRock, Fidelity, and Bitwise have been among the many high 10 most-traded ETFs within the US over the previous week. Furthermore, the asset measurement of Grayscale and Fidelity’s Bitcoin ETFs had surpassed $1 billion on the shut of buying and selling on Jan 18, in response to Bloomberg ETF analyst James Seyffart.
Bitcoin Vaults Past Silver in ETF Market
CoinGape News reported earlier that bitcoin ETFs, which have 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 underneath administration (AUM) whereas Gold ETFs have $96 billion in AUM.
Driven 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.
Also Read: Cathie Wood & Elon Musk Bullish On Bitcoin, Ark Buys More ARKB ETF With BITO Holdings
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