Nine recently introduced Bitcoin exchange-traded funds (ETFs) now manage a total of over 100,000 bitcoins, valued at around $4 billion excluding the Grayscale Bitcoin Trust (GBTC) after its conversion.
These ETFs, provided by companies like BlackRock, Fidelity, Bitwise, Ark 21Shares, Invesco, VanEck, Valkyrie, Franklin Templeton, and WisdomTree, hold varying amounts of Bitcoin. BlackRock’s ETF (IBIT) is leading with 40,213 bitcoins, followed by Fidelity’s FBTC with 34,152 bitcoins.
In summary, the combined holdings of these new ETFs add up to 109,221 bitcoins as of Monday. This calculation excludes GBTC, which saw a $2.8 billion decrease in assets under management during the same period.
The assets held by Grayscale’s converted GBTC fund have decreased by more than 10%, going from approximately 619,220 BTC to 552,680 BTC. According to CoinGlass data, this drop of 66,540 BTC represents around 60% of the bitcoin currently held by the new spot bitcoin ETFs.
On January 22, the seventh day of trading for the U.S. Bitcoin exchange-traded fund (ETF), the total trading activity amounted to $2.1 billion. The majority of this volume, specifically $1.1 billion, was attributed to GBTC, as reported.
“Woof. BAD day for Bitcoin ETFs overall in the Cointucky Derby. GBTC saw over $640 million flow out today. Outflows aren’t slowing — they’re picking up. This is the largest outflow yet for GBTC. Total out so far is $3.45 billion,” Seyffart said.
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