Bitcoin ETFs now hold nearly $4 billion in assets

Quick Take

  • The nine new spot Bitcoin ETFs have accumulated nearly $4 billion in assets under management, with Fidelity and BlackRock’s ETFs neck-and-neck for the top slot, according to preliminary data shared by Bloomberg analyst Eric Balchunas. 

After six full days of trading, 95,000 bitcoin are now held by the nine approved spot Bitcoin ETFs, bringing the value of their assets under management to nearly $4 billion dollars. 

According to early numbers shared by Eric Balchunas, senior ETF analyst for Bloomberg, the inflows of capital into the nine new ETFs has outpaced outflows from the Grayscale Bitcoin Trust (GBTC), which has seen the value of its assets under management fall by $2.8 billion over the six-day period. 

Of the nine ETFs, two have separated themselves from the pack: Fidelity’s (FBTC) and BlackRock’s iShares (IBIT), which have each seen over $1.2 billion in inflows over the six days of trading. While Fidelity’s ETF has seen slightly higher inflows, BlackRock’s currently has slightly more assets under management with $1.4 billion compared to Fidelity’s nearly $1.3 billion. 

However, Invesco’s ETF (BTCO) in third place has seen consistent growth; Friday was its best day for inflows yet, taking in over $63 million, though its total assets under management have yet to cross the $200 million mark. VanEck’s ETF (HODL) also had its best day for inflows, bringing its total assets under management over $100 million. 

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Friday also saw the third-highest trading volume across the spot bitcoin ETFs so far, according to data from The Block, with the majority of that volume captured by GBTC. 


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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].