According to data made available by senior analyst Vetle Lunde at K33 Research, the recently launched spot Bitcoin Exchange-Traded Funds (ETFs) have amassed a total of over 303,000 BTC in assets under management (AUM) in less than eight weeks, demonstrating a compelling demonstration of investor interest and market demand.
Spot Bitcoin ETF performance
According to the statistics, the nine biggest ETFs that were launched on January 11 currently have an astounding 303,002 BTC, or around $17 billion, as of the conclusion of trade on February 26.
But this doesn’t include the assets owned by Grayscale’s converted GBTC fund, whose holdings have decreased since the ETFs were introduced.
VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), Bitwise (BITB), Ark Invest 21Shares (ARKB), BlackRock (IBIT), Fidelity (FBTC), Invesco (BTCO), and WisdomTree (BTCW) are the nine ETFs.
Within the first several days of trade, the nearly straight line growth by the nine only saw a brief period of flatness and no decrease.
https://x.com/VetleLunde/status/1762385285915070750?s=20
This is significant since these ETFs now own close to 1.5% of the 21 million Bitcoin that are available for purchase. This is more than the holdings of well-known companies in the Bitcoin market, such Tether and MicroStrategy. An incredible $631 million was seen flowing from Bitcoin investors in a single day, setting a record.
With more than 128,000 BTC in AUM, BlackRock’s IBIT is the best among the nine ETFs. Fidelity’s FBTC, which has more than 94,000 BTC, comes in close second.
These U.S. spot Bitcoin ETFs have performed quite well, as seen by the large net inflows they have received—more than $6 billion altogether. Notably, net inflows increased on Monday, with FBTC from Fidelity leading the way with $243.3 million and ARKB from Ark Invest 21 Shares with $130.6 million.
Grayscale’s assets crashing
By comparison, holdings in Grayscale’s converted GBTC fund have decreased by more than 28% since January 11. Since its January introduction, it has dropped from around 620,000 BTC to 440,000 BTC.
With just $22.4 million exiting the fund, Grayscale’s higher-fee GBTC product is now seeing its lowest withdrawals since its launch. This sum represents only a minor percentage of the $7.5 billion in withdrawals that have been detected thus far, and about half of the outflows from the previous trading day.
