Spot Bitcoin ETFs Record Over $800 Million In Net Inflows in Debut Week – Details


On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history. 

So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading. 

How To Get Free Crypto  

Although these inflows are yet to be reflected in BTC’s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin ETFs have certainly kicked off with a blast which is indicative of potential gains for the world’s largest asset and the general crypto market. 

Spot Bitcoin ETFs Attract Over $1.4 Billion In Two Days – Bloomberg Data

In an X post on January 13, Bloomberg ETF analyst Eric Balchunas shared some insight on the impressive performance of the spot Bitcoin ETFs in their debut trading week. 

Balchunas noted that of the 11 approved spot BTC ETFs, nine have recorded a total inflow of over $1.4 billion. Leading the lot is BlackRock’s IBIT, with an estimated asset inflow of $497.7 million, closely followed by Fidelity’s FBTC, which boasts about $422.3 million in investment. 

The BTC spot ETFs of Bitwise and ARK/21 Shares have also produced a significantly positive performance attracting $237.9 million and 105.2 million, respectively.  On the other hand, Grayscale’s GBTC has been the market outcast, recording a stunning $579 million in outflows over the first two days of trading. 

Coinbase Banner  

Source: Bloomberg

Following the SEC’s approval on Wednesday, investors cashed in heavily on GBTC, which was recently converted from a closed-end fund to a spot ETF. SkyBridge Capital founder Anthony Scaramucci has already commented on this trend describing it as one of the potential reasons behind Bitcoin’s dip in the last week. 

In total, the spot Bitcoin ETF market recorded an impressive net inflow of $818.9 million in its debut trading week. These figures are likely to improve in the next few weeks as selling volume eventually declines. Meanwhile, investors still anticipate the debut of Hashdex’s spot ETF – DEFI – which is undergoing fund conversion from the company’s Bitcoin futures ETF.

BTC Price Overview

At the time of writing, Bitcoin exchanges hands at $42,980 reflecting a 0.73% loss in the last day. Meanwhile, the token’s daily trading volume has plummeted by 62.33% and is now valued at $16.9 billion. However, with a market cap of $842.23 billion, Bitcoin remains the largest cryptocurrency in the world.

BTC trading at $42,916.07 on the daily chart | Source: BTCUSDT chart on Tradingview.com

Featured image from Yahoo Finance, chart from Tradingview

FreeBitcoin Banner  

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Go to Source
Author: Semilore Faleti


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

You May Also Like

More From Author

This site uses Akismet to reduce spam. Learn how your comment data is processed.