The Rise of Bitcoin ETFs
Bitcoin ETFs have experienced remarkable growth since their listing on the market, symbolizing the increasing interest from institutional and individual investors in the cryptocurrency ecosystem, particularly BTC.
According to recent Bloomberg data, these funds have managed to accumulate nearly $4 billion in assets under management, surpassing the $4 billion mark.
Furthermore, the total amount of assets under management has exceeded the outflows recorded by Grayscale’s GBTC product. Since its conversion into an ETF, GBTC has witnessed outflows of $2.8 billion. Some experts believe that these outflows were primarily caused by the relatively high management fees offered by the manager, in addition to many investors taking profits after speculating on the approval of Bitcoin ETFs by the SEC through GBTC.
It is important to note that Bitcoin Spot ETFs were approved by the SEC on January 10 and listed the following day on the markets.
The Market Leaders and Their Impact
Among these funds, Fidelity and BlackRock stand out, each attracting over $1.2 billion in just six days of trading.
Invesco’s ETF, named BTCO, recorded a capital inflow record on Friday, with over $63 million, although its total assets under management remain below $200 million.
Meanwhile, VanEck’s ETF, HODL, currently holds over $100 million in assets under management.
