tl;dr
The fourth day of spot Bitcoin ETF trading in the US saw impressive numbers, with the Newborn Nine ETFs taking in $3b and trading $5.4b in the first four days. BlackRock’s IBIT has amassed over $1 billion, with Fidelity’s FBTC and Bitwise’s BITB trailing behind. Despite slowing down, it remains to b...
Summary: The fourth day of spot Bitcoin ETF trading in the US saw impressive numbers, with the Newborn Nine ETFs taking in $3b and trading $5.4b in the first four days. BlackRock’s IBIT has amassed over $1 billion, with Fidelity’s FBTC and Bitwise’s BITB trailing behind. Despite slowing down, it remains to be seen if GBTC sales will continue to decrease, as the BTC price has remained somewhat stagnant, hovering below $43,000 over the past few days.
The data for the fourth day on which spot Bitcoin ETFs are traded in the US is complete. And the numbers are once again extremely impressive. Bloomberg analyst Eric Balchunas highlighted the strong performance of the newly approved spot Bitcoin ETFs (all 10 approved ETFs minus Grayscale which converted its GBTC Trust into an ETF), collectively termed the “Newborn Nine.” Balchunas conveyed the burgeoning success of these ETFs, noting, “Day Four was a good one, the ROLLING NET FLOWS grew to $1.2b after the Newborn Nine pulled in $914b on Wednesday, their best day yet, overwhelming the $450 out of GBTC. This influx of investment has particularly favored BlackRock’s IBIT, which has now amassed over $1 billion ($1.081 billion), with Fidelity’s FBTC ($882.3 million) and Bitwise’s BITB ($373.3 million) trailing behind. The robust growth of these ETFs does not solely signify a shift of capital from Grayscale’s GBTC. Balchunas elaborated, “Even if every penny of GBTC outflows went to them (it hasn’t), this is normal stuff. ETFs have been taking money from high-cost mutual funds for decades...
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