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 <p class="is-style-lead">On Jan. 16, the total volume generated by 10 spot Bitcoin ETFs surpassed the cumulative volume of all 500 ETFs launched in 2023, exceeding it by more than three times.</p>
 <p>As per data from Yahoo Finance, the 10 newly approved spot Bitcoin ETFs collectively amassed a trading volume of just above $1.8 billion on Jan. 16, with Grayscale, BlackRock, and Fidelity’s offerings leading the way contributing $1.6 billion to the overall total.</p>
 <p>This <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> significantly <a rel="noopener noreferrer nofollow" title="surpass" href="https://thebittimes.com/tag/surpass.html">surpass</a>ed the <a rel="noopener noreferrer nofollow" title="combined" href="https://thebittimes.com/tag/combined.html">combined</a> $450 million trading <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> of all 500 ETFs <a rel="noopener noreferrer nofollow" title="launched" href="https://thebittimes.com/tag/launched.html">launched</a> in the United States during 2023, as reported by Bloomberg ETF analyst Eric Balchunas.</p>
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    <p lang="en" dir="ltr">Let me put into context how insane $10b in volume is in first 3 days. There were 500 ETFs launched in 2023. Today, they did a COMBINDED $450m in volume. The best one did $45m. And many have had months to get going. $IBIT alone is seeing more activity than the entire '23 Freshman… https://t.co/wV1zQFtPW1</p>— Eric Balchunas (@EricBalchunas) January 16, 2024
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 <p>Despite a notable decline in trading <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> since the initial surge – with the third day closing at under $3.1 billion compared to $4.6 billion on the first day – the overall performance remains impressive. In just three days, the total <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a> for these spot Bitcoin ETF products neared $10 billion, a figure confirmed by Bloomberg’s ETF analyst James Seyffar.</p>
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 <p>A standout in this scenario is BlackRock’s iShares Bitcoin Trust, which drew over $497 million in net inflows in the past three days. It currently leads in attracting new investments and is poised to potentially <a rel="noopener noreferrer nofollow" title="surpass" href="https://thebittimes.com/tag/surpass.html">surpass</a> Grayscale’s <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>, which has been dominant in the crypto-based ETF market.</p>
 <p>Grayscale’s ETF, a conversion of its flagship GBTC fund, has seen considerable outflows, shedding over $579 million since its market debut last week. Despite this, the fund maintains approximately $27 billion in assets under management.</p>
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    <p lang="en" dir="ltr">LATEST: Day Three volume so far half a billion for the Newborn Nine which is healthy, about the same pattern dropoff rate as $BITO (which again was the most successful organic launch in ETF history). $IBIT keeping lead to be one most likely to overtake $GBTC as Liquidity King. pic.twitter.com/hoatfSmNpN</p>— Eric Balchunas (@EricBalchunas) January 16, 2024
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 <p>Balchunas highlighted the importance of liquidity as a decisive factor for investors choosing among the new spot bitcoin ETFs. This includes considerations such as tighter bid-ask spreads and the ability to execute large trades with minimal impact on price.</p>
 <p>Competitors such as Ark Invest and 21Shares, along with Bitwise, also marked their presence in the market, recording trading <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s of approximately $124 million and $52 million, respectively, on Jan. 16. However, offerings from Invesco, VanEck, Franklin Templeton, Valkyrie, and WisdomTree observed more modest <a rel="noopener noreferrer nofollow" title="volume" href="https://thebittimes.com/tag/volume.html">volume</a>s of $10 million or less.</p>
 <p>Despite the varying performance among the different funds, the overall trading activity for these new ETFs is seen as robust, with a cumulative volume exceeding $9.5 billion over three days. Balchunas compared this trend to the BITO’s launch, which holds the record for the most successful organic launch in ETF history.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etfs-surpass-triple-the-combined-daily-volume-of-500-etfs-launched-in-2023-tbt76812.html">https://thebittimes.com/bitcoin-etfs-surpass-triple-the-combined-daily-volume-of-500-etfs-launched-in-2023-tbt76812.html</a></p>

Bitcoin ETFs surpass triple the combined daily volume of 500 ETFs launched in 2023

TheBitTimes

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