Bitcoin

Grayscale Bitcoin Trust

BlackRock

<p class="is-style-lead">BlackRock and Fidelity Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>) ETFs had the best debut in the ETF market in the last 30 years in their first month.</p>
<p>Bloomberg analyst Eric Balchunas highlights BlackRock and Fidelity’s IBIT and FBTC spot Bitcoin ETFs which the U.S. Securities and Exchange Commission (<a href="https://crypto.news/tag/sec/" target="_blank" rel="noopener noreferrer nofollow">SEC</a>) approved on Jan. 10, 2024 as the best performing ETF launch over the last three decades.</p>
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   <p lang="en" dir="ltr">Here's a look at the Top 25 ETFs by assets after 1 month on the market (out of 5,535 total launches in 30yrs). <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$IBIT</a> and <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$FBTC</a> in league of own w/ over $3b each and they still have two days to go. <a href="https://twitter.com/search?q=%24ARKB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$ARKB</a> and <a href="https://twitter.com/search?q=%24BITB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$BITB</a> also made list. <a href="https://t.co/Yyi1nxukUk" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Yyi1nxukUk</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1755702963778023718?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">February 8, 2024</a>
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<p>In its first month of trading, the instruments attracted more assets than any other exchange-traded fund in the United States. However, the analyst’s rating only considers <a href="https://crypto.news/tag/etf/" target="_blank" rel="noopener noreferrer nofollow">ETFs</a> that appeared at the time of launch. It excluded all conversions, including about 100 conversions of mutual funds to ETFs and GBTCs (as they transfer pre-existing assets).</p>
<p>He said most of the GBTC outflow was made by <a href="https://crypto.news/tag/ftx/" target="_blank" rel="noopener noreferrer nofollow">FTX</a> and prop traders, suggesting a discount most likely not intended for another BTC ETF. Balciunas thinks the real invisible force here is competition.</p>
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 <p>“I think the real unseen force here is competition. 10 ETFs launching on the same day w/ some stud issuers just made everyone hustle their ass off, work every poss angle for inflows.”</p> <cite>Eric Balchunas, Bloomberg analyst</cite>
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<p>At the end of January, Bitcoin exchange-traded funds from BlackRock and Fidelity <a href="https://crypto.news/blackrock-and-fidelitys-bitcoin-etfs-break-into-top-10-with-4-8b-january-inflow/" target="_blank" rel="noopener noreferrer nofollow">entered</a> the top ten largest American ETFs by asset inflows. Between them, the amount amounted to $4.8 billion. The month’s net inflow into the iShares Bitcoin Trust amounted to $2.6 billion—the eighth highest. Fidelity Wise Origin Bitcoin ETF took tenth place with $2.2 billion. Grayscale Bitcoin Trust ETF (<a href="https://crypto.news/tag/GBTC/" target="_blank" rel="noopener noreferrer nofollow">GBTC</a>) had the second-largest net outflow for the month – $5.7 billion.</p>
<p>Read more: <a href="https://crypto.news/blackrock-spot-bitcoin-etf-enters-top-5-us-etps-by-capital-inflow/" rel="noopener noreferrer nofollow"> BlackRock spot Bitcoin ETF enters top 5 US ETPs by capital inflow </a></p>

BlackRock and Fidelity made best debut on ETF market in 30 years

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