Investors are showing strong interest in the first wave of exchange-traded funds (ETFs) tracking Bitcoin, with net inflows into spot Bitcoin ETFs reaching $33.1 million after six trading days, as per BitMEX Research.
Fidelity’s Wise Origin Bitcoin Trust and BlackRock’s iShares Bitcoin Trust stand out with substantial inflows of $222.3 million and $201.5 million, respectively.
However, Grayscale Bitcoin Trust (GBTC) saw substantial outflows, with over $590 million exiting on the sixth day, attributed partly to higher fees and profit-taking.
Despite GBTC challenges, nine spot Bitcoin ETFs accumulated $3.2 billion, purchasing a total of $79,618 Bitcoin since launch. On the sixth day, these ETFs collectively added 796.6 Bitcoin, worth approximately $33 million.
Notably, BlackRock, Fidelity, and Bitwise’s ETFs ranked among the top 10 most-traded in the US, with Grayscale and Fidelity’s ETFs surpassing $1 billion in assets within five days.
Bitcoin ETFs signal strong investor interest, with Fidelity and BlackRock leading. Grayscale faces challenges, but ETFs overall showcase significant market impact, heralding a new era in crypto investment.
Also Read: Nasdaq and Cboe Seek SEC Approval for Bitcoin ETF Trading
