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The US-listed spot Bitcoin exchange-traded funds (ETFs) have cumulatively purchased about 68,500 Bitcoin (BTC) since their launch, valued at $2.8 billion, in accordance with knowledge offered by X account CC15Capital. Notably, the information doesn’t embody numbers for the Grayscale Bitcoin Trust (GBTC), which continued to see outflows on the fifth buying and selling day.

The knowledge additionally confirmed that spot Bitcoin issuers noticed their Bitcoin holdings rise by one other 10,667 BTC on Day 5 of buying and selling — price over $440 million at Bitcoin’s present worth. BlackRock’s ETF, iShares Bitcoin Trust (IBIT), led the acquisition race, including 8,700 BTC, valued at roughly $358 million.

Notably, Bitcoin has been underneath great promoting stress as GBTC continues to see outflows. Traders pulled $580 million out of GBTC on the fifth buying and selling day, CoinGape News reported. Grayscale’s Bitcoin ETF has seen outflows of over $2 billion since its launch on Jan 11, in accordance with knowledge compiled by BitMEX Research.

Bitcoin ETF Trade Volumes Jumped 34% on Day 5

Meanwhile, in accordance with Bloomberg senior ETF analyst Eric Balchunas, the “Newborn Nine” — a time period he makes use of to confer with the 9 spot Bitcoin ETFs excluding GBTC — noticed a 34% rise in commerce 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 stated in an X submit.

In a separate X submit, Bitcoin Magazine identified that spot Bitcoin ETFs run by BlackRock, Fidelity, and Bitwise had been among the many prime 10 most-traded ETFs within the US over the previous week. Furthermore, the asset dimension of Grayscale and Fidelity’s Bitcoin ETFs had surpassed $1 billion on the shut of buying and selling on Jan 18, in accordance with Bloomberg ETF analyst James Seyffart.

Bitcoin Vaults Past Silver in ETF Market

CoinGape News reported earlier that bitcoin ETFs, which had been accredited within the US simply final week, have already amassed $27.5 billion in belongings. By comparability, Silver ETFs have $11 billion in belongings underneath administration (AUM) whereas Gold ETFs have $96 billion in AUM.

Driven by the optimism round Bitcoin ETFs, crypto funding merchandise saw inflows of round $1.2 billion within the second week of January, knowledge from CoinGlass confirmed.

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

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