Key Points
- BlackRock's IBIT spot bitcoin ETF has accumulated 200,000 BTC in just two months of trading.
- Despite substantial outflows from Grayscale's GBTC fund, U.S. spot bitcoin ETFs continue to see strong inflows and trading volumes.
After only two months on the market, BlackRock's IBIT spot bitcoin exchange-traded fund (ETF) has amassed 200,000 BTC in assets under management.
This is part of a wider trend, with nine new spot bitcoin ETFs - excluding the converted Grayscale GBTC fund - holding more than 420,000 BTC in total.
Leading Performers Among Newborn ETFs
BlackRock's IBIT now holds approximately 204,000 BTC, equivalent to about $14.7 billion.
Fidelity's FBTC and Ark Invest 21Shares' ARKB are in second and third place, with over 128,000 BTC and nearly 38,000 BTC respectively.
Last week, IBIT surpassed MicroStrategy’s holdings of 193,000 BTC, although MicroStrategy has since retaken the lead with a further purchase of 12,000 BTC.
Bitwise’s BITB also recently became the fifth U.S. spot bitcoin ETF to hold more than $2 billion in assets.
Comparatively, Grayscale’s GBTC fund has seen a 37% decrease in BTC holdings, from around 619,000 BTC to 388,000 BTC.
Strong Inflows and Trading Volume
Despite significant outflows from GBTC, net inflows for U.S. spot bitcoin ETFs were $505.5 million on Monday.
IBIT led the way with $562.9 million of inflows, followed by Fidelity’s FBTC with $215.5 million.
On Friday, BlackRock’s IBIT spot bitcoin ETF total inflows surpassed $10 billion for the first time, while the total for the nine new ETFs exceeded $20 billion.
Trading volume for the U.S. spot bitcoin ETFs also remained strong on Monday, reaching $6.91 billion - the fourth-largest daily volume to date.
BlackRock’s IBIT led Monday’s trading volume with $3.05 billion, followed by Grayscale’s GBTC and Fidelity’s FBTC, which generated $1.59 billion and $1.42 billion respectively.
BlackRock and Fidelity's spot bitcoin ETFs now account for over 60% of the total market share by trading volume.
The cumulative trading volume for all spot bitcoin ETFs now stands at $113.5 billion.
Bitcoin is currently trading at $72,031, up 7.5% over the past week.
