Bitcoin ETFs buy 95,000 BTC as assets under management hit $4 billion Bitcoin ETFs buy 95,000 BTC as assets under management hit $4 billion
Growing investor appetite evident as "Newborn Nine" Bitcoin ETFs accumulate $4 billion in assets under management.
2 min read
Updated: Jan. 22, 2024 at 1:19 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
The “Newborn Nine” Bitcoin ETFs have collectively amassed 95,000 BTC, with collective assets under management (AUM) nearing $4 billion, according to available data.
According to Bloomberg ETF analyst Eric Balchunas, this remarkable inflow of capital highlights the growing investor appetite for digital assets and the increasing acceptance of cryptocurrencies in mainstream finance.
Balchunas pointed out that most ETFs typically experience a drop in trading volume each day after launch. However, the Newborn Nine have continued to post record volume, with the fifth day of trading seeing a 34% increase in volume.
$1B club
BlackRock’s IBIT and Fidelity’s FBTC have led the pack in growth. Both funds have seen substantial inflows of over $1.2 billion each within this short period and each of them holds a little over 30,000 Bitcoin.
While Fidelity’s FBTC has slightly higher inflows, BlackRock’s IBIT leads in AUM, holding $1.4 billion compared to Fidelity’s nearly $1.3 billion.
Other notable ETFs include Invesco’s ETF, which had its best day on Jan. 19, attracting over $63 million, though its total AUM hasn’t surpassed $200 million. VanEck’s ETF has shown similar performance and broke the $100 million mark in AUM on day six of trading.
Meanwhile, Valkyrie Investments and Franklin Templeton’s AUM stood at $71.7 million and $48.6 million, respectively, on Jan. 19. WisdomTree has yet to break the $10 million mark.
Grayscale outflows
This substantial capital influx into the newly launched Bitcoin ETFs has outpaced the outflows from the Grayscale Bitcoin Trust (GBTC), which saw its AUM decrease by $2.8 billion in the same period.
GBTC has seen a reduction in its spot Bitcoin shares, amounting to a loss of $1.62 billion in the first four days. This suggests a shift in investor preference towards the new ETFs, which offer regulatory clarity and ease of access.
Despite the volatile nature of Bitcoin, which saw a sell-off in the same period, these ETFs have been successful. This success is partly attributed to redirecting outflows from GBTC to these new spot Bitcoin ETFs.
Mentioned in this article
Bitcoin 
Fidelity Investments 
Grayscale Investments 
BlackRock 
Valkyrie 
Franklin Templeton 
VanEck 
WisdomTree Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Valkyrie
Valkyrie Investments is a specialized alternative asset management firm at the intersection of traditional finance and the emerging digital asset sector which is headquartered in Nashville.
Franklin Templeton
Franklin Resources, Inc., commonly known as Franklin Templeton, stands as an American multinational holding company rooted in the world of finance.
VanEck
VanEck is a global investment manager with offices around the world, including New York, Australia, China, Germany, Netherlands and Switzerland.
WisdomTree
WisdomTree is a global financial innovator, offering a well-diversified suite of exchange-traded products (ETPs), models, and solutions.