Summary
Spot bitcoin ETFs, led by issuers such as BlackRock and Fidelity, have attracted $11.4 billion in capital inflows in the past five weeks. These funds have used the cash to buy bitcoin on behalf of ETF shareholders, accumulating a total of 258,770 BTC. The funds are currently holding $13.48 billion worth of bitcoin, $2.08 billion more than the value that has flowed into the funds. The funds have performed well, with investors up more than 18% since their January 11 debut, outperforming bitcoin’s gain of less than 12%. BlackRock’s fund, IBIT, is leading in terms of actual dollars, with $6.04 billion in assets under management. Other funds, such as Invesco-Galaxy’s BTCO, have also seen significant gains. However, BTCO is the only fund to record outflows since launch, with investors pulling more than 1,500 BTC ($78.1 million) between February 9 and 14. Grayscale’s flagship fund, now an ETF, has seen outflows of nearly 2,400 BTC per trading day this month.
Key Points
– Spot bitcoin ETFs have attracted $11.4 billion in capital inflows in the past five weeks, with investors plowing billions of dollars into these funds.
– As of Friday morning, spot ETFs held 258,770 BTC, worth $13.48 billion, which is $2.08 billion more than the value that has flowed into the funds to date.
– Buyers of these funds have seen overall gains of more than 18% since their January 11 debut, outperforming the less than 12% gain of bitcoin itself.