New Bitcoin ETFs Attract Over $9 Billion in One Month

Azeez Mustapha


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Bitcoin exchange-traded funds (ETFs) are swiftly becoming the preferred choice for investors seeking exposure to cryptocurrency without the complexities of direct ownership.

In a remarkable surge, nine new spot bitcoin ETFs have debuted in the US over the past month, collectively amassing over 200,000 bitcoins, equivalent to a staggering $9.6 billion at current exchange rates.

Distinguished by their methodology of holding actual bitcoins in custody, these ETFs mark a departure from previous offerings reliant on derivatives or trusts.

These ETFs track the price of bitcoin by holding the actual coins in custody, unlike previous products that used derivatives or trusts. The nine ETFs are:

  • BlackRock (IBIT)
  • Fidelity (FBTC)
  • Bitwise (BITB)
  • Ark 21Shares (ARKB)
  • Invesco (BTCO)
  • VanEck (HODL)
  • Valkyrie (BRRR)
  • Franklin Templeton (EZBC)
  • WisdomTree (BTCW)

Surpassing notable bitcoin holders like MicroStrategy and Tether, these ETFs collectively secure 0.95% of the finite 21 million bitcoin supply, signaling a seismic shift in investor sentiment toward cryptocurrency exposure.

Leading the pack, BlackRock’s IBIT and Fidelity’s FBTC command significant holdings, with respective bitcoin reserves exceeding 80,000 and 68,000 (equivalent to $3.8 billion and $3.3 billion). Notably, these ETFs rank among the top 25 ETFs overall in terms of assets under management, as indicated by Bloomberg ETF analyst Eric Balchunas.

In contrast, Grayscale’s GBTC, the pioneer and largest bitcoin fund to date, has experienced a substantial decline of nearly 25% in assets since the advent of these new ETFs. This shift underscores investors’ pivot towards more liquid and cost-effective alternatives.

New Bitcoin ETFs Attract Over $9 Billion in One Month
Image via Coinglass

BlackRock and Fidelity’s Bitcoin ETFs Top Global ETF Chart

In terms of trading volume and inflows, the new ETFs have demonstrated remarkable prowess, outpacing GBTC on multiple fronts. Notably, on Thursday alone, IBIT and FBTC boasted trading volumes of $481.6 million and $246.6 million, respectively, eclipsing GBTC’s $373.9 million.

Furthermore, IBIT and FBTC recorded net inflows of $204.1 million and $128.3 million, while GBTC saw net outflows of $101.6 million, according to insights from BitMEX Research and The Block’s data dashboard.

For those interested in exploring investment opportunities in bitcoin and other crypto products, a free newsletter offers access to invaluable market insights and crypto signals.


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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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