Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-bitcoin-etf-trust-among-top-5-by-aum-in-2023/" data-wpel-link="internal">Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023</a><br></p>
<p style="text-align: justify">Bitwise <a href="https://en.coin-turk.com/bitcoin-price-predictions-and-top-performing-altcoins/" data-wpel-link="internal">Bitcoin</a> ETF Trust (BITB) is currently among the top 5% of exchange-traded funds (ETFs) by assets under management (AUM) that have been launched in 2023.</p> 
<h2 id="the-etf-process-at-bitwise">The ETF Process at Bitwise</h2> 
<p style="text-align: justify">Hunter Horsley, co-founder and CEO of asset manager Bitwise, announced on January 18 that BITB had acquired an additional $68 million in Bitcoin (BTC). Horsley highlighted that this brought the total asset inflow to BITB over the last four days to $370 million. Nate Geraci, president of investment advisory firm ETF Store, mentioned in a post that with an AUM of $355 million, BITB ranked as the 25th largest AUM among over 540 ETFs launched in 2023.</p> 
<p style="text-align: justify">However, according to an ETF tracker created by Sprout Finance, BITB’s AUM has depreciated since the writing of this article and is currently around $290 million. According to Bloomberg ETF analyst Eric Balchunas, the newly launched spot Bitcoin ETFs performed better than the other 500 ETFs launched in 2023 as of January 16.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-304155 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/gbtc.jpg" alt="" width="1049" height="465"></p> 
<h2 id="comments-from-a-bloomberg-analyst">Comments from a Bloomberg Analyst</h2> 
<p style="text-align: justify">While other ETFs achieved a volume of $450 million on that day, spot Bitcoin ETFs attracted three times more <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a>, reaching a total volume of $1.8 billion. Data shared by Bloomberg Intelligence analyst James Seyffart shows that the overall trading volume in new spot Bitcoin ETF products reached $10 billion over the last three days.</p> 
<p style="text-align: justify">Among the newly launched spot Bitcoin ETFs, BITB ranks fourth by AUM, while BlackRock’s iShares Bitcoin Trust (IBIT) leads with nearly $500 million. Fidelity’s FBTC and Wisdomtree’s BTCW are in second and third place with $427 million and $321 million, respectively. Bitwise Bitcoin ETF Trust (BITB), being in the top 5% by assets under management, has seen an asset inflow of $370 million in the last four days, purchasing $68 million worth of Bitcoin. There are conflicting reports regarding its AUM value, but it holds a significant position in the ETF market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitwise-bitcoin-etf-trust-among-top-5-by-aum-in-2023/" data-wpel-link="internal">Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023</a></h5>

Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023

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