bitcoin-etfs-btc-price-holds-steady-at-46000/” target=”_blank” rel=”noopener nofollow”>bitcoin Spot ETF have finally been approved by the US Securities and Exchange Commission and, as expected, their approval led to a bitcoin-news/bitcoin-erases-49000-etf-rally-coinbase-selling/” target=”_blank” rel=”noopener nofollow”>diverse market movement. The first day of trading for the 11 approved spot ETFs turned out to be a memorable one, with nearly $4.6 billion in ETF shares traded. ETF volumes were also significant during the second day of trading, with steady activity taking cumulative volume to over $7.6 billion.
According to BitMEX Research, reported net inflow into the 11 bitcoin spot ETFs was $532 million in the first two days, with Blackrock leading the way with $497.7 million in btc.
BlackRock Spot ETF Holdings
After two days of ETF trading, statistics have revealed the ranking of the 11 ETFs, those leading the pack and those lagging behind. Unsurprisingly, current data puts Blackrock's total bitcoin assets in its ETF ahead of the rest. The first day of trading saw Blackrock net inflows totaling $111.7 million, falling behind Bitwise and Fidelity with $237.9 million and $227 million respectively.
bitcoin Spot ETF Flow: Day 2 UPDATE
Flow number for Blackrock now available. Blackrock had $386 million in entry. This gives Blackrock almost $500 million in entry in the first 2 days, which likely puts it in the lead. https://t.co/N0jYEQpgdg pic.twitter.com/xGzY8jvblO
— BitMEX Research (@BitMEXResearch) January 13, 2024
In particular, things took a turn on the second day of trading. Blackrock had the highest net inflow of $386 million on day 2 to raise its total inflow to $497.99 million in the first two days. According to the bitcoin-trust” target=”_blank” rel=”noopener nofollow”>website For Blackrock's spot bitcoin exchange-traded fund (ETF), the Ishares bitcoin Trust (IBIT), the fund now holds 11,439.2 btc.
Although the ETF launch has done well under normal circumstances, it appears to have done well. bitcoin-news/bitcoin-climax-analyst-flags-market-peak-amid-spot-etf-hype-cooling-off/” target=”_blank” rel=”noopener nofollow”>he fell short of the enormous figures projected by many market analysts. According to Larry Fink, CEO of Blackrock, the new ETFs are just the first step towards a new financial world.
“ETFs are the first step in the technological revolution of financial markets. The second step will be the tokenization of all financial assets,” he said in an interview with CNBC.
btc market cap currently at $840.141 billion. Chart: TradingView.com
Current Status of bitcoin ETFs
The BitMEX Research report also revealed the dynamics between the first and second trading days. As noted above, the first day of trading ended with almost $4.6 billion in trading volume and a net inflow of $625.8. However, trading volume fell to just over $3.1 billion on the second day, with BitMEX data revealing a lower net inflow of $205 million.
Most of the second day's outflow can be attributed to the Grayscale bitcoin Trust. Although leading the market With around $1.9 billion in trading volume on the first day, the fund failed to record a net inflow and ended the day with $95.1 million in net outflow. This outflow continued into the second day, with the Grayscale bitcoin Trust recording a net outflow of over $484 million.
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