- Data also indicates that issuers of exchange-traded Bitcoin
in the United States added another 10,667 BTC on the fifth day of trading.
- According to data compiled by BitMEX Research, Grayscale’s Bitcoin ETF has seen more than $2 billion in outflows since its launch on January 11.
- According to Bloomberg ETF analyst James Seyffart, the assets under management for Grayscale and Fidelity’s Bitcoin ETFs surpassed $1 billion at the close of trading on January 18.
|Before you reading,
Don't miss coins like PEPE again! Click here to find new PEPEs!
Spot Bitcoin ETFs in the United States are standing out with BTC purchases following high volumes: How much BTC has been bought?
BTC Purchased for Spot Bitcoin ETFs
|Did you missed the PEPE? No worries, click here to 100x potential memes!
According to provided data, exchange-traded funds (ETFs) for spot Bitcoin listed in the United States have made a total of 68,500 Bitcoin (BTC) purchases since their launch, with the value of these BTCs reaching $2.8 billion. Importantly, these figures do not include the numbers for Grayscale Bitcoin Trust (GBTC) on the fifth trading day, which continues to see ongoing outflows.
Data also indicates that issuers of exchange-traded Bitcoin added another 10,667 BTC on the fifth day of trading, equivalent to over $440 million in value at the current price of Bitcoin. BlackRock’s ETF, iShares Bitcoin Trust (IBIT), led the acquisition race, adding approximately 8,700 BTC valued at around $358 million.
|You are looking to New 1000x Potential Gems: We recommended to Click Here to Buy Safely!
Particularly, Bitcoin has been under significant selling pressure due to the ongoing outflows from GBTC. According to COINOTAG, traders withdrew $580 million from GBTC on the fifth trading day. According to data compiled by BitMEX Research, Grayscale’s Bitcoin ETF has seen more than $2 billion in outflows since its launch on January 11.
Meanwhile, according to Bloomberg’s Senior ETF Analyst Eric Balchunas, the nine spot Bitcoin ETFs, which he refers to as the “Newborn Nine” and do not include GBTC, experienced a 34% increase in trading volume on the fifth day. Balchunas said in a tweet, “You typically see a steady decline in volume every day after an overhyped launch; it’s rare for it to reverse,” in a separate tweet.
In another tweet, it was mentioned that spot Bitcoin ETFs managed by BlackRock, Fidelity, and Bitwise were among the most traded ETFs in the United States last week. Additionally, according to Bloomberg ETF analyst James Seyffart, the assets under management for Grayscale and Fidelity’s Bitcoin ETFs surpassed $1 billion at the close of trading on January 18.
Bitcoin ETFs Surpass Silver in ETF Market
As previously reported by COINOTAG, Bitcoin ETFs approved in the United States last week have already accumulated $27.5 billion in assets. In comparison, Silver ETFs have $11 billion in assets under management (AUM), while Gold ETFs have $96 billion AUM. With the optimism surrounding Bitcoin ETFs, crypto investment products received approximately $1.2 billion in inflows in the second week of January, according to CoinGlass’s data.