According to data from X account CC15Capital, the Bitcoin exchange-traded funds (ETFs) listed in the US have collectively purchased approximately 68,500 Bitcoin (BTC) since they were introduced, amounting to $2.8 billion. It is important to note that this data does not include information on the Grayscale Bitcoin Trust (GBTC), which experienced a decrease in holdings on the fifth day of trading.
According to the data, it was also revealed that individuals who trade Bitcoin directly saw an increase in their Bitcoin holdings by an additional 10,667 BTC on the fifth day of trading. This amount of Bitcoin is valued at over $440 million based on the current price of Bitcoin. BlackRock The iShares Bitcoin Trust (IBIT), an exchange-traded fund, took the lead in acquiring 8,700 BTC, which is worth approximately $358 million.
Bitcoin has experienced significant selling pressure due to the continuous outflows from GBTC. On the fifth trading day, traders withdrew around $580 million from GBTC, as stated by CoinGape News. Since its launch on January 11, Grayscale’s Bitcoin ETF has seen outflows surpassing $2 billion, according to data from BitMEX Research.
Bitcoin ETF Trade Volumes Jumped 34% on Day 5
In the meantime, the “Newborn Nine” which refers to nine Bitcoin ETFs excluding GBTC, experienced a 34% increase in trade volumes on the fifth day, as reported by Bloomberg senior ETF analyst Eric Balchunas. Balchunas mentioned that it is unusual to observe a reversal in volume after a highly anticipated launch, usually it steadily declines each day post-launch. This statement was made in a post on X.
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Bitcoin Magazine mentioned in a different post that spot Bitcoin exchange-traded funds (ETFs) managed by BlackRock, Fidelity, and Bitwise were among the top 10 most actively traded ETFs in the United States during the previous week. Additionally, the total value of Grayscale and Fidelity’s Bitcoin ETFs exceeded $1 billion at the end of trading on January 18, as reported by Bloomberg ETF analyst James Seyffart.
Bitcoin Vaults Past Silver in ETF Market
CoinGape News reported Bitcoin ETFs, recently authorized in the United States, have rapidly accumulated a substantial $27.5 billion in assets. To put this into perspective, Silver ETFs currently hold $11 billion in assets under management (AUM), while Gold ETFs have an impressive $96 billion in AUM.
are gaining immense popularity among investors. The increasing demand for these products is primarily fueled by the positive sentiment and belief that Bitcoin ETFs will bring legitimacy and ease of access to the cryptocurrency market. Investors are hopeful that the introduction of such investment vehicles will attract institutional investors and lead to a surge in the adoption of cryptocurrencies. As a result, crypto investment products are becoming increasingly sought after and are expected to continue experiencing significant growth in the near future. saw According to CoinGlass data, there were inflows of approximately $1.2 billion during the second week of January.
