Spot Bitcoin ETFs Excluding GBTC Have Bought BTC Worth $2.8 Billion Since Launch

In just a week after launch, the US-listed spot Bitcoin ETFs have acquired Bitcoin (BTC) worth $2.8 billion.
By Coingape Staff
Breaking: Susquehanna International Holds $1.3B in 10 Bitcoin ETFs, $1B in GBTC

The US-listed spot Bitcoin exchange-traded funds (ETFs) have cumulatively bought about 68,500 Bitcoin (BTC) since their launch, valued at $2.8 billion, according to data provided by X account CC15Capital. Notably, the data doesn’t include numbers for the Grayscale Bitcoin Trust (GBTC), which continued to see outflows on the fifth trading day.

The data also showed that spot Bitcoin issuers saw their Bitcoin holdings rise by another 10,667 BTC on Day 5 of trading — worth over $440 million at Bitcoin’s current price. BlackRock’s ETF, iShares Bitcoin Trust (IBIT), led the acquisition race, adding 8,700 BTC, valued at roughly $358 million.

Bitcoin Holdings of Spot Bitcoin ETF Issuers As of December 18
Bitcoin Holdings of Spot Bitcoin ETF Issuers As of December 18

Notably, Bitcoin has been under tremendous selling pressure as GBTC continues to see outflows. Traders pulled $580 million out of GBTC on the fifth trading day, CoinGape News reported. Grayscale’s Bitcoin ETF has seen outflows of over $2 billion since its launch on Jan 11, according to data compiled by BitMEX Research.

Advertisement
Advertisement

Bitcoin ETF Trade Volumes Jumped 34% on Day 5

Meanwhile, according to Bloomberg senior ETF analyst Eric Balchunas, the “Newborn Nine” — a term he uses to refer to the nine spot Bitcoin ETFs excluding GBTC — saw a 34% rise in trade volumes on Day 5. “Normally with a hyped-up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up,” Balchunas said in an X post.

Bitcoin ETF Trade Volumes On Day 5

In a separate X post, Bitcoin Magazine pointed out that spot Bitcoin ETFs run by BlackRock, Fidelity, and Bitwise were among the top 10 most-traded ETFs in the US over the past week. Furthermore, the asset size of Grayscale and Fidelity’s Bitcoin ETFs had surpassed $1 billion at the close of trading on Jan 18, according to Bloomberg ETF analyst James Seyffart.

Bitcoin Vaults Past Silver in ETF Market

CoinGape News reported earlier that bitcoin ETFs, which were approved in the US just last week, have already amassed $27.5 billion in assets. By comparison, Silver ETFs have $11 billion in assets under management (AUM) while Gold ETFs have $96 billion in AUM.

Driven by the optimism around Bitcoin ETFs, crypto investment products saw inflows of around $1.2 billion in the second week of January, data from CoinGlass showed.

Also Read: Cathie Wood & Elon Musk Bullish On Bitcoin, Ark Buys More ARKB ETF With BITO Holdings

 

Advertisement
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.