Home NewsBitcoin New Bitcoin ETFs Soar to $10 Billion, Eclipsing Grayscale’s Movements

New Bitcoin ETFs Soar to $10 Billion, Eclipsing Grayscale’s Movements

by dave
1 minutes read

The crypto landscape is witnessing an exciting turn of events as nine newly launched Bitcoin ETFs have rapidly expanded their portfolios, amassing a staggering 208,878 BTC valued at $10 billion. This significant achievement overshadows the recent sell-off by Grayscale’s Bitcoin Trust (GBTC), marking a notable shift in the accumulation of digital assets.

Since their debut, these ETFs — including names like BRRR, BTCW, HODL, ARKB, EZBC, IBIT, FBTC, BITB, and BTCO — have collectively added 6,009.49 BTC to their holdings, an investment worth $288 million. This swift accumulation highlights the growing investor interest and confidence in Bitcoin’s potential.

Leading the pack, Blackrock’s IBIT and Fidelity’s FBTC command a substantial portion of the total assets, holding 75.26% between them. Other participants like Bitwise’s BITB and the Invesco Galaxy BTCO ETF also contribute significant figures, showcasing a diverse and robust Bitcoin ETF ecosystem.

Meanwhile, Grayscale’s GBTC has experienced a net outflow of 2,252.2 BTC since February 9, 2024, reducing its holdings to 466,534.79 BTC. This change underscores the dynamic nature of the crypto market and the shifting focus towards new investment vehicles.

As the crypto community continues to evolve, the success of these Bitcoin ETFs not only highlights the broadening appeal of Bitcoin as a digital asset but also signals a new era in cryptocurrency investment, where ETFs play a pivotal role in shaping the future of digital asset management.

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