Bitcoin

Grayscale Bitcoin Trust

Spot

<p class="is-style-lead">Spot Bitcoin exchange-traded fund issuers accumulated an additional 10,667 Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) to their holdings by the fifth trading day, paralleling an uptick in trading volumes.</p> 
<p>According to data from the X account CC15Capital Bitcoin worth approximately $440 million was acquired by funds taking part in recent ETF approval. BlackRock’s ETF made the most considerable purchase with 8,700 BTC on Jan. 17, valued at nearly $358 million.</p> 
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   <p lang="en" dir="ltr">FINAL Day 5 Update for 1/17 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a>&nbsp;ETF Holdings👇<a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$GBTC</a> finally posted their data, showing 10,824 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> outflow.<br><br>On a net basis, ETFs bought 10,667 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> on Day 5.<br><br>Ready for 1/18 reports 🧮<a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$IBIT</a> <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$FBTC</a> <a href="https://twitter.com/search?q=%24ARKB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$ARKB</a> <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BITB</a> <a href="https://twitter.com/search?q=%24BRRR&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BRRR</a> <a href="https://twitter.com/search?q=%24BTCO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTCO</a> <a href="https://twitter.com/search?q=%24HODL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$HODL</a> <a href="https://twitter.com/search?q=%24EZBC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$EZBC</a> <a href="https://twitter.com/search?q=%24BTCW&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTCW</a> <a href="https://twitter.com/search?q=%24DEFI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$DEFI</a> <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$GBTC</a> <a href="https://t.co/WFEkvStjBc" target="_blank">pic.twitter.com/WFEkvStjBc</a></p>— CC15Capital 🇺🇸 (@Capital15C) <a href="https://twitter.com/Capital15C/status/1748122024550031386?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 18, 2024</a>
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<p>Collectively, nine ETFs, excluding Grayscale, have amassed close to 68,500 BTC since their inception, now valued at around $2.8 billion.</p> 
<p>The recent acquisitions of Bitcoin by various ETFs have been counterbalanced by <a href="https://crypto.news/grayscale-bitcoin-etf-sees-579m-in-daily-net-outflows/">ongoing withdrawals from the Grayscale Bitcoin Trust</a> (GBTC), with the removal of about 10,824 BTC, equivalent to roughly $445 million, from GBTC. Since its transition to a spot ETF on Jan. 11, GBTC has seen an outflow of nearly 38,000 BTC.</p> 
<p> You might also like: <a href="https://crypto.news/spot-bitcoin-etfs-net-inflow-approaches-3b/"> Spot Bitcoin ETFs net inflow approaches $3b </a> </p> 
<p>Bloomberg ETF analyst Eric Balchunas has coined the term ‘Newborn Nine’ for nine of the ten newly approved Bitcoin ETFs’, competitors that are attracting investment away from the first-mover Grayscale Bitcoin Trust (GBTC). These funds witnessed a 34% increase in daily trading volume by the fifth day, defying the typical post-launch pattern of decreasing volumes.</p> 
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   <p lang="en" dir="ltr">This is interesting, the Newborn Nine actually saw a 34% jump in volume today vs yesterday. Normally with a hyped up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up. All but one saw jump too but GBTC change flat so wasn't a volatility… <a href="https://t.co/f6xOsLRWjr" target="_blank">pic.twitter.com/f6xOsLRWjr</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1748101735552299510?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 18, 2024</a>
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<p>However, it is important to note that there is a delay in reporting Bitcoin purchases by ETF managers due to the settlement period of transactions, which might affect the immediacy of data.</p> 
<p>Both <a href="https://crypto.news/blackrock-races-to-the-bottom-with-new-bitcoin-etf-fee/">BlackRock </a>and <a href="https://crypto.news/fidelity-expects-bitcoin-to-consolidate-recent-gains/">Fidelity’s </a>Bitcoin ETFs have shown robust investor interest, surpassing $1 billion in assets under management each as of Jan. 18, <a href="https://twitter.com/JSeyff/status/1748191264154038714" target="_blank" rel="noopener">according </a>to Bloomberg ETF analyst James Seyffart.</p> 
<p>Rachel Aguirre, Head of U.S. iShares Product at BlackRock, <a href="https://crypto.news/blackrock-reports-diverse-investor-interest-in-its-spot-bitcoin-etf/">discussed </a>the strong interest in their new spot Bitcoin ETF, IBIT, in a recent interview with Bloomberg TV. She noted diverse engagement from investors, including retail and self-directed types, with some ready to invest from the beginning.</p> 
<p>Further, Balchunas observed that the BlackRock and Fidelity Bitcoin ETFs are among the top five U.S. ETFs for weekly capital inflows, following closely behind the Vanguard 500 Index Fund ETF.</p> 
<p>Bitwise, another asset manager, reported an addition of 491 BTC on Jan. 18, as per CEO Hunter Horsley’s <a href="https://twitter.com/HHorsley/status/1748160175071248622" target="_blank" rel="noopener">post </a>on X.</p> 
<p>The rise in ETF popularity has coincided with a drop in overall cryptocurrency market capitalization and a<a href="https://crypto.news/spot-bitcoin-etfs-net-inflow-approaches-3b/"> surge in ETF inflows</a>. This trend underscores a growing inclination towards ETFs as a preferred investment vehicle in the cryptocurrency space.</p> 
<p>At the time of writing, Bitcoin’s price has declined by 3.6% over the past 24 hours, trading at $41,245, and has seen a 10% fall over the week.</p> 
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  BTC 24-hour price chart | Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noopener">CoinMarketCap</a>
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<p> Read more: <a href="https://crypto.news/crypto-investment-products-get-1-18b-inflows-amid-spot-bitcoin-etf-launch/"> Crypto investment products get $1.18b inflows amid spot Bitcoin ETF launch </a> </p>

Spot Bitcoin ETFs secure another 10,600 BTC in fifth-day trading surge

crypto.news

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