nine spot Bitcoin ETFs manage to gather a substantial sum

The combined assets under management for the recently launched spot Bitcoin ETFs, including BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW), have now surpassed 100,000 BTC, equivalent to approximately $4 billion, excluding the converted GBTC fund from Grayscale.

nine spot Bitcoin ETFs manage to gather a substantial sum

As of the latest data from K33 Research, BlackRock’s spot Bitcoin ETF (IBIT) leads the pack with 40,213 BTC in holdings, followed by Fidelity’s FBTC with 34,152 BTC. The total holdings of these new ETFs reached 109,221 BTC on Monday. It’s worth noting that this calculation does not include Grayscale Bitcoin Trust (GBTC), which has experienced a $2.8 billion decrease in assets under management during this period.

According to CoinGlass data, Grayscale’s converted GBTC fund has seen a decline of over 10%, falling from around 619,220 BTC to 552,680 BTC. This decrease of 66,540 BTC represents approximately 60% of the total Bitcoin now held by the recently introduced spot Bitcoin ETFs.

On the seventh day of trading, the market witnesses a substantial trading volume of 2.1 billion Dollars

On January 22, the seventh day of trading for U.S. spot Bitcoin ETFs, the market experienced a notable total trading volume of $2.1 billion, with a significant portion, $1.1 billion, attributed to GBTC, as reported by The Block’s data dashboard.

The newly introduced spot Bitcoin ETFs garnered $564.5 million in inflows on Monday, as highlighted by Bloomberg ETF analyst James Seyffart. BlackRock’s IBIT led the inflow trend with its third-largest daily inflow, attracting $272 million. Fidelity’s FBTC secured the second position with $159 million in inflows, while other ETFs recorded inflows below $100 million.

However, despite these inflows, the day marked the largest daily outflow for Grayscale’s converted GBTC fund, amounting to $640.5 million. This resulted in a net outflow of $76 million on the same day, coinciding with Bitcoin’s price dipping below $40,000 for the first time in seven weeks. Presently, Bitcoin is trading at $39,227, according to The Block’s price page.