The preliminary data shared by Bloomberg analyst Eric Balchunas reveals that the nine recently introduced spot Bitcoin ETFs have garnered almost $4 billion in assets under management. Fidelity and BlackRock’s ETFs are in close competition for the leading position.
After six complete trading days, the nine authorized spot Bitcoin ETFs now collectively hold 95,000 bitcoins, elevating the total value of their assets under management to almost $4 billion. Preliminary figures from Eric Balchunas, Bloomberg’s senior ETF analyst, indicate that the influx of capital into the nine recently launched ETFs has exceeded the outflows from the Grayscale Bitcoin Trust (GBTC). GBTC witnessed a decline of $2.8 billion in the value of its assets under management over the six-day period.
READ ALSO: The Rise of Cryptocurrency: Bitcoin ETF Leads the Charge
Among the nine ETFs, two have notably distinguished themselves: Fidelity’s (FBTC) and BlackRock’s iShares (IBIT), both accumulating over $1.2 billion in inflows during the six days of trading. Although Fidelity’s ETF experienced slightly higher inflows, BlackRock’s currently boasts slightly more assets under management, with $1.4 billion compared to Fidelity’s nearly $1.3 billion.
Yet, Invesco’s ETF (BTCO) in the third position has demonstrated consistent growth, with Friday marking its best day for inflows, amassing over $63 million. Despite this, its total assets under management have not yet surpassed the $200 million mark. VanEck’s ETF (HODL) also experienced its most substantial day for inflows, pushing its total assets under management beyond $100 million.
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