Summary
Two bitcoin ETFs, BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC), have distinguished themselves with the highest net inflows among ten spot bitcoin ETFs launched on January 11. IBIT reached $1 billion in assets after four days of trading, while FBTC hit the milestone on its fifth trading day. IBIT and FBTC have attracted around $1.2 billion and nearly $1.1 billion in net inflows, respectively. Grayscale Investments’ Bitcoin Trust ETF (GBTC) has seen outflows of about $2.2 billion so far, likely due to its high fee compared to other ETFs. WisdomTree’s bitcoin ETF has had the lowest level of inflows, with $15 million in trading volumes and $2.6 million in flows. Brazil-based Hashdex has yet to offer spot bitcoin ETF exposure as the US Securities and Exchange Commission is still reviewing its proposed investment strategy change.
Key Points
1. BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) have distinguished themselves in terms of net inflows among the ten spot bitcoin ETFs launched on Jan. 11. IBIT reached $1 billion in assets after four days of trading, while FBTC reached the same milestone on its fifth trading day.
2. IBIT and FBTC have seen significant net inflows, with approximately $1.2 billion and nearly $1.1 billion respectively, according to Bloomberg Intelligence data. Both funds have also generated more than $2 billion in trading volumes since their launch.
3. Grayscale Investments’ Bitcoin Trust ETF (GBTC) has experienced outflows, with approximately $2.2 billion being withdrawn so far. GBTC’s high 1.5% fee, compared to the lower fees of other ETFs, has contributed to this decline in assets. However, GBTC still dominates spot bitcoin ETF volumes and has generated trading volumes of around $7.7 billion after five days of trading.