Nine newly launched US spot Bitcoin exchange-traded funds (ETFs) have quickly gained traction, collectively holding over 300,000 BTC in assets under management (AUM). This represents nearly 1.5% of the total BTC supply of 21 million.
Rapid Growth and Investor Confidence
Since their debut in January, these ETFs have attracted a total of 303,002 BTC, equivalent to $17 billion. This influx of funds indicates growing investor confidence in Bitcoin as a long-term investment asset.
Leading ETFs
BlackRock’s IBIT spot Bitcoin ETF leads the pack with over 128,615 BTC in AUM, followed by Fidelity’s FBTC with over 94,455 BTC.
Impact on Market
The surge in BTC ETFs has had a significant impact on market inflows and outflows. Total net inflows across all US spot Bitcoin ETFs exceeded $6 billion recently, with nearly $520 million in net inflows in a single day.
Grayscale’s GBTC Decline
Meanwhile, Grayscale’s converted GBTC fund has seen a notable decline in assets managed, dropping by over 28% since January.
Crypto Investment Products Gaining Popularity
BTC spot ETFs have played a major role in the recent inflow of crypto investment products. Bitcoin-based funds, particularly spot ETFs, drew in $570 million of the total investments last week.
