Newborn Nine Bitcoin ETFs hit record $914 million inflow in a single day Insights BitcoinCrypto EquitiesETFs
Newborn Nine Bitcoin ETFs hit record $914 million inflow in a single day
Rolling netflows grew to $1.2b after the Newborn Nine pulled in $914b, according to Balchunas.
Quick Take
The fourth day of trading activity witnessed a striking upsurge in the aggregation of rolling net flows, escalating to a notable $1.2 billion, according to Eric Balchunas. This surge was primarily driven by the ‘Newborn Nine,’ a collective term for the emerging digital asset funds coined by Balchunas, which accrued a substantial $914 million, marking their most successful trading day to date. According to Balchunas, this influx surpassed the $450 million outflow from GBTC, spotlighting the significant momentum gained by the Newborn Nine.
Over the initial four-day trading period, the Newborn Nine saw an unusually high intake of $3 billion and a trading volume of $5.4 billion, painting a picture of robust market participation, according to Balchunas. Of these, IBIT surged past the $1 billion mark, while FBTC closely followed. BITB established itself in the third position. Remarkably, half of the Newborn Nine surpassed the $100 million benchmark, a testament to the strong investor interest in these budding digital asset funds, according to Balchunas.
Analyst 
James Van Straten
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.