Spot Bitcoin ETFs have seen explosive growth since their launch in the United States less than two months ago. The volume of assets under management has exceeded 300,000 bitcoins, reflecting growing interest from institutional investors in this digital currency.
Sharp increase in the size of Bitcoin (BTC) holdings.
According to a report by research firm K33 Research, the holdings of nine Bitcoin ETFs totaled approximately 303,002. BTC ($17 billion) at the end of yesterday. The list of these funds, which began operating on January 11, includes:
- BlackRock (IBIT)
- Loyalty (FBTC)
- Bitwise (BITB)
- Ark Invest 21Shares (ARKB)
- Invesco (BTCO)
- VanEck (HODL)
- Valkyrie (BRRR)
- Franklin Templeton (EZBC)
- Tree of Wisdom (BTCW)
To give an idea of the size of these holdings, these new funds now own approximately 1.5% of the total Bitcoin supply, or 21 million. BTC.
This number exceeds the holdings of the world's largest Bitcoin investor, MicroStrategy, by 193,000 BTC.
And more than four times the holdings of Tether, which issues the USDT stablecoin, which has 66,465 BTC.
This is also more than the holdings of all Bitcoin mining entities combined.
The BlackRock IBIT ETF, affiliated with the giant BlackRock, tops the list of largest holdings, with more than 128,000 BTC ($7 billion).
The Fidelity FBTC fund comes in second among Bitcoin ETFs with over 94,000 BTC ($5 billion), according to data from BitMEX Research.
Read also: Report: A decrease in the correlation coefficient of Bitcoin price with ETF flows. What does that mean ?
Continued strong positive inflows into Bitcoin ETFs
Total net flows across all U.S. Bitcoin ETFs have surpassed $6 billion after seeing net inflows of nearly $520 million yesterday – the highest in two weeks, according to BitMEX Research.
Fidelity's FBTC fund dominated Monday's inflows, adding $243.3 million, while the Ark Invest 21 Shares ARKB fund took second place, recording $130.6 million in inflows yesterday.
The usually dominant BlackRock IBIT ETF fell to third place in inflows on Monday, posting $111.8 million.
Waiting for, The grayscale GBTC fund witnessed The converter recorded its lowest outflow since the day it launched, with just $22.4 million flowing out of the fund, equivalent to half of the previous day's inflows and a fraction of total inflows of 7.5 billion dollars recorded so far, according to the data. CoinGlass.
Standard Trading Volume
Yesterday, the nine new funds also set a new record in terms of... Daily trading volumetrading volume reached $2.4 billion, led by the BlackRock ETF, which surpassed the $1 billion mark, which was enough to break the previous daily record recorded on the first day of trading for these funds.
Eric Balchunas, senior ETF analyst at Bloomberg, commented on the records, saying: It's official... The nine new Bitcoin funds broke the all-time trading volume record today with $2.4 billion. Just exceeding the first day's volume, but almost double its recent daily average.
Positive effects on the digital currency market
The rapid growth of Bitcoin ETFs shows an accelerated increase in institutional investor interest in this digital currency. This will have a positive impact on the cryptocurrency market by:
Increased Liquidity: Providing investors with an easy way to buy and sell Bitcoin without the need for digital currency trading platforms.
Boost Trust: Improve Bitcoin’s reputation by linking it to traditional stock markets.
Attract more investors: Paving the way for investors who do not have experience in digital currencies to invest in Bitcoin.
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