Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Following the historic approval of Bitcoin Spot ETFs by the US Securities and Exchange Commission (SEC), their second-day performance revealed promising growth in the sector.
Bloomberg analysts Eric Balchunas and James Seyffart shared data on fund flows into Bitcoin Spot ETFs, providing valuable insight into market dynamics.
<h2 id="there-was-a-huge-outflow-of-579-million-dollars-from-gbtc">There was a huge outflow of 579 million dollars from GBTC</h2>
Balchunas reported that nine newly launched Bitcoin Spot ETFs, dubbed “Nine Newborns,” received over $1.4 billion in new cash in two days. This inflow suppressed the $579 million outflow from Grayscale Bitcoin Trust (GBTC), resulting in a net total of $819 million.
iShares' (BlackRock) Bitcoin ETF (IBIT) leads the way with half a billion dollars in inflows, followed closely by Fidelity's Bitcoin ETF (FBTC). Newborn ETFs also showed impressive trading volumes, with $3.6 billion traded across 500,000 individual transactions (1.2 million including GBTC).
<ul>
 <li>iShares (IBIT): Day 1 Fund Flows = 111.7, Day 2 Fund Flows = 386.0, Total Flows = 497.7</li>
 <li>Fidelity (FBTC): Day 1 Fund Flows = 227.0, Day 2 Fund Flows = 195.3, Total Flows = 422.3</li>
 <li>Bitwise (BITB): Day 1 Fund Flows = 237.9, Day 2 Fund Flows = 0.0, Total Flows = 237.9</li>
 <li>ARK/21Shares (ARKB): Day 1 Fund Flows = 65.3, Day 2 Fund Flows = 39.8, Total Flows = 105.2</li>
 <li>Franklin (EZBC): Day 1 Fund Flows = 50.1, Day 2 Fund Flows = 0.0, Total Flows = 50.1</li>
 <li>Invesco (BTCO): Day 1 Fund Flows = 17.4, Day 2 Fund Flows = 28.4, Total Flows = 45.7</li>
 <li>Valkyrie (BRRR): Day 1 Fund Flows = 0.0, Day 2 Fund Flows = 27.6, Total Flows = 27.6</li>
 <li>Van Eck (HODL): Day 1 Fund Flows = 10.6, Day 2 Fund Flows = 0.0, Total Flows = 10.6</li>
 <li>WisdomTree (BTCW): Day 1 Fund Flows = 1.0, Day 2 Fund Flows = 0.0, Total Flows = 1.0</li>
 <li>Grayscale (GBTC): Day 1 Fund Flows = -95.1, Day 2 Fund Flows = -484.1, Total Flows = -579.1</li>
 <li>TOTAL: Day 1 Fund Flows = 625.8, Day 2 Fund Flows = 193.1, Total Flows = 818.9</li>
 <li>Total, Excluding GBTC: Day 1 Fund Flows = 720.9, Day 2 Fund Flows = 677.2, Total Flows = 1398.0</li>
 <li>ProShares (BITO): Day 1 Fund Flows = 91.8, Day 2 Fund Flows = -109.7, Total Flows = -17.9</li>
</ul>
(All Units = Million Dollars)
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/second-day-performance-of-bitcoin-spot-etfs-is-now-available-is-gbtc-the-reason-for-the-drop-in-btc-price/" rel="noopener noreferrer nofollow">Second Day Performance of Bitcoin Spot ETFs is Now Available: Is GBTC the Reason for the Drop in BTC Price?</a>

Second Day Performance of Bitcoin Spot ETFs is Now Available: Is GBTC the Reason for the Drop in BTC Price?

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