Since launch, spot Bitcoin ETFs gained approximately 68,500 BTC, which is currently valued at about $2.8 billion. However, outflows from GBTC accounts totaled about 38,000 BTC.
According to data from analyst CC15Capital, since launch, spot Bitcoin ETF accounts added 30,496 BTC, considering the outflow of funds from Grayscale Bitcoin Trust ETF (GBTC) accounts. Thus, exchange-traded funds added $440 million (10,667 BTC) to their assets at the end of the fifth trading day. BlackRock’s ETF accounted for the majority of this — $358 million (8,700 BTC).
Only Hunter Horsley, CEO of Bitwise, officially reported on the growth of assets. The assets of Bitwise Bitcoin Strategy Optimum Roll ETF (BITC) grew by $20 million (491 BTC) during the fifth trading session, bringing the fund’s assets under management to $390 million (9,450 BTC) over the five days.
Eric Balchunas, Bloomberg Analyst, noted that spot Bitcoin ETFs, excluding GBTC, experienced a 34% increase in trading volume during the fifth trading session. The analyst said that such dynamics are rarely observed. As typically, excitement and trading volume decrease a few days after launch.
Balchunas also observed that BlackRock and Fidelity’s spot Bitcoin ETFs rank fourth and fifth, respectively, in weekly capital inflow among all U.S. ETFs. The top three spots are held by iShares Core S&P 500 ETF (IVV), Vanguard S&P 500 ETF (VOO), and Invesco QQQ Trust Series 1 (QQQ). They all track the performance of the largest publicly traded U.S. companies in one way or another.
The activity of spot Bitcoin ETFs triggered a massive sell-off in BTC, which affected its value. Since January 11, when trading in new instruments began, BTC fell by almost 10%, amounting to about $41,300 as of 13:00 (GMT+2), January 19.
