<\/p>\n
Spot Bitcoin ETFs hold $27.7B in assets, surpassing out the $11.3B managed by silver ETFs<\/p>\n
The freshly-launched cohort of Bitcoin ETFs have surpassed $1B worth of inflows in their first four days of trading, despite persistent heavy outflows from Grayscale\u2019s Bitcoin Trust ETF.<\/p>\n
According to data\u00a0tweeted<\/a>\u00a0by BitMEX on Jan. 18, spot Bitcoin ETFs took in $1.29B worth of investment over four days. BlackRock\u2019s iShares Bitcoin Trust is the top performing fund so far with an inflow of more than $1.08B, followed by the Fidelity Wise Origin Bitcoin ETF with $884M, and the Bitwise Bitcoin ETF with $375M.<\/p>\n However, the Grayscale Bitcoin Trust ETF continues to suffer heavy outflows, with a daily negative flow of $483M bringing its total outflows to $1.6B.<\/p>\n The sizable inflows have helped to catapult the spot Bitcoin ETF sector to boast assets under management (AUM) totalling\u00a0$27.7B<\/a>. Data from VettaFi, Bitcoin funds are the\u00a0second largest<\/a>\u00a0class of commodity ETFs, beating out silver\u2019s $11.3B and trailing gold\u2019s $94.8B.<\/p>\n However, the milestone is largely the result of the enormous BTC stash controlled by Grayscale prior to the conversion of its Grayscale Bitcoin Trust into an ETF. Grayscale currently accounts for 89% of the combined spot Bitcoin ETF AUM with holdings of more than\u00a0581,000 BTC<\/a>, according to data from CoinGlass.<\/p>\n Data compiled by James Seffart, a Bloomberg analyst,\u00a0estimated<\/a>\u00a0that futures and spot Bitcoin ETFs represent $36.9B in AUM combined.<\/p>\n Spot Bitcoin ETFs also hosted record trade volume on their fourth day of operations. The 10 funds hosted close to\u00a0$2.2B<\/a>\u00a0worth of trades, according to data compiled by\u00a0Eric Balchunas<\/a>, an ETF analyst at Bloomberg.<\/p>\n Balchunas noted that the nine funds excluding Grayscale posted a 34% daily jump in volume on their fifth day, with the sector driving $2.1B worth of activity in total. \u201cNormally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up,\u201d Balchunas tweeted. \u201cGood sign IMO.\u201d<\/p>\n In other Bitcoin ETF news, Direxion\u00a0filed<\/a>\u00a0with the ETF to launch five futures ETFs offering leveraged exposure to Bitcoin or short Bitcoin. The firm joins Rex Shares and ProShares in awaiting a verdict on pending applications for leveraged Bitcoin ETFs.<\/p>\n <\/p>\nBitcoin ETF volume remains high<\/h2>\n
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