Franklin

Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/spotlight-on-bitcoin-etfs-blackrock-and-fidelity-lead-the-charge" rel="noopener noreferrer nofollow">Spotlight on Bitcoin ETFs: BlackRock and Fidelity Lead the Charge</a> 
Nine new spot <a href="https://en.bitcoinhaber.net/deciphering-bitcoins-market-shifts-amidst-short-term-panic-orders" rel="noopener noreferrer nofollow">Bitcoin</a> ETFs, excluding Grayscale’s converted GBTC fund, collectively hold over 100,000 Bitcoins in assets under management. These ETFs include products from BlackRock, Fidelity, Bitwise, Ark 21Shares, Invesco, VanEck, Valkyrie, Franklin Templeton, and WisdomTree.
K33 Research data shows BlackRock’s IBIT leading with 40,213 Bitcoins, while Fidelity’s FBTC holds the second-highest at 34,152 Bitcoins. Together, these new ETFs have reached 109,221 Bitcoins as of January 22, not counting the Grayscale Bitcoin Trust (GBTC) which saw a $2.8 billion drop in asset value during the same period.
CoinGlass data indicates that Grayscale’s converted GBTC fund experienced a 10% reduction in held assets, from approximately 619,220 to 552,680 Bitcoins. This 66,540 Bitcoin decrease corresponds to roughly 60% of the total Bitcoin held by the new spot Bitcoin ETF products.
The Block’s data dashboard reveals that on January 22, the seventh day of U.S. spot Bitcoin ETF transactions, GBTC dominated with $1.1 billion of the total $2.1 billion trading volume. Despite significant inflows into new spot Bitcoin ETFs, with BlackRock’s IBIT leading at $272 million and Fidelity’s FBTC at $159 million, other ETFs remained below $100 million.
However, these inflows were insufficient to offset the largest daily outflow of Grayscale’s converted GBTC fund, which amounted to $640.5 million, contributing to a net outflow of $76 million as Bitcoin’s price fell below $40,000 for the first time in seven weeks.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/spotlight-on-bitcoin-etfs-blackrock-and-fidelity-lead-the-charge" rel="noopener noreferrer nofollow">Spotlight on Bitcoin ETFs: BlackRock and Fidelity Lead the Charge</a></h5>

Spotlight on Bitcoin ETFs: BlackRock and Fidelity Lead the Charge

BH NEWS

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