After six full days of trading, the recently approved spot Bitcoin exchange-traded funds (ETFs) currently own 95,000 Bitcoin between them, with assets under management (AUM) getting close to $4 billion.
In data released by Eric Balchunas, a senior ETF analyst at Bloomberg, the capital flood into the recently created ETFs has overtaken the outflows from the Grayscale Bitcoin Trust (GBTC). In the first six trading days, GBTC’s assets under management had dropped by $2.8 billion.
Among the ETFs, inflows of more than $1.2 billion have been made to BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC. IBIT presently has larger AUM ($1.4 billion) than Fidelity ($1.3 billion), despite FBTC having slightly higher inflows.
Third place went to Invesco’s ETF, which has continued to rise steadily. Its highest day for inflows was Friday, January 19, drawing in nearly $63 million, even though its total assets under management are still around $200 million. Additionally, Friday was the biggest day for inflows into VanEck’s ETF, bringing its total assets under management to over $100 million.
The BTC ETFs received $440 million in Bitcoin from investors on their fifth trading day, as per statistics collected on January 17 by the X (formerly Twitter) account CC15Capital.
IBIT from BlackRock took first place with 8,700 BTC, or around $358 million. According to the data, nine ETFs (Grayscale not included) have gained almost 68,500 BTC, or around $2.8 billion, since its launch.
On January 18, Balchunas released data highlighting the “Newborn Nine,” his moniker for the new spot Bitcoin ETFs that do not include GBTC. By the fifth day of trading, the daily trading volume had increased by 34%.