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[Warfare]

After many tribulations, the day has come for SEC to finally approve the spot Bitcoin ETFs.

These are the 11 approved spot Bitcoin ETFs:

1. Grayscale Bitcoin Trust ETF
2. Bitwise Bitcoin ETF
3. Hashdex Bitcoin ETF
4. iShares Bitcoin ETF
5. Valkyrie Bitcoin ETF
6. ARK 21Shares ETF
7. Galaxy Bitcoin ETF
8. VanEck Bitcoin ETF
9. WisdomTree Bitcoin ETF
10. Fidelity Wise Bitcoin ETF
11. Franklin Bitcoin ETF

Statement from the official SEC website:
https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023

 

[EBUBEJAH]

Honestly, this is a very good news for Crypto enthusiasts, ever since the good news broke out, people have been jubilating, positioning themselves to take a very good advantage of the approval, well we keep hoping for the best, as people will get to make it this bull season.

 

[IB DD]

This was a long time coming. Very huge win to the entire crypto sphere. Slowly, crypto is making inroads into the conventional financial system. There is no way crypto can be outboard for long with this kind of progress and development.

 

[Warfare]

Spot Bitcoin ETFs had over $4.6 billion in trading volume on the opening day

Top 5 in trading volume:
1. Grayscale
2. BlackRock
3. Fidelity
4. ARK
5. BitWise

Half of this volume was from Grayscale Bitcoin Trust BTC ($2.3 billion).

 

[Warfare]

Flow numbers for day 1 of the spot Bitcoin ETFs

Bitwise has $237m of inflows.
Fidelity has $227m of inflows.
BlackRock has $111m of inflows.
Grayscale is the only one with $95m of outflows.

In terms of assets, Grayscale is leading, followed by Fidelity and Bitwise.

 

[Warfare]

Day 2 of spot Bitcoin ETFs had $3.1 billion in trading volume

Grayscale, BlackRock and Fidelity are still leading the pack.
This brings the total trading volume for the first two day to nearly $7.9 billion.

 

[Gen Evie]

These two juggernauts are leading the pack in early trading as between the two of them, their new spot bitcoin ETFs have seen more than $958 million in trading volume as. both BlackRock and Fidelity's products are new it's likely the majority of the trading volume is made up of inflows of capital. Many market watchers have attempted to speculate how much capital will flow into the new instruments, which allows investors to wager on the price of bitcoin without having to own the digital currency.

 

[Gamer01]

Persistence paid off for the companies this tell us that if we are on the right track and we have a firm belief that we are correct then we should make sure to try our best and give our best efforts actually so that we can succeed indeed and that is how things come off with patience and grit indeed .

 

[GoldenLady]

I especially like the HODL ticker amonsgt them. This development will pave way for adoption of cryptocurrency amongst those with real money who were fearful of buying earlier.

It will place more scrutiny on the industry though, which might be counterproductive to decentralization.

 

[Warfare]

Total inflows into the spot Bitcoin ETFs since their approval have reached more than $4.9 billion.
Biggest gainer is BlackRock with $1.6 billion net inflows in the past week.
Bitcoin is currently bouncing in the $51k - $52k range.

 

[Warfare]

There is a shift of interest for investors from gold-backed ETFs to spot Bitcoin ETFs.
The former is facing outflows of more than a billion dollars, while the latter is having a surge in inflows of more than 4 billion dollars.

 

[Warfare]

Cumulative trading volume for the spot Bitcoin ETFs broke the 50 billion dollars mark, just six weeks after they were approved back in January 10.
The past few days in particular have had strong trading volumes.

 

[Warfare]

The spot Bitcoin ETFs are now holding a nice figure of 292,362 BTC, which is around 2,000 more than MicroStrategy.

Top 4 by amount held:
1. BlackRock - 129,127 BTC
2. Fidelity - 93,465 BTC
3. ARK - 30,721 BTC
4. BitWise - 23,276 BTC

 

[Warfare]

Weekly flows data for the spot Bitcoin ETFs reveals another $597.8 million in net inflows.
Grayscale was again in red with $432.9 million in outflows.
Year-to-date inflows crossed the $5.7 billion mark.

 

[Warfare]

The spot Bitcoin ETFs are now holding a nice figure of 292,362 BTC, which is around 2,000 more than MicroStrategy.

Correction: around 102,000 more than MicroStrategy.

 

[Warfare]

The new spot Bitcoin ETFs now hold more than 300,000 BTC
Excluding Grayscale and Hashdex, only the following ETFs are taken into account: BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark Invest 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW).

 

[Warfare]

Back when there were only Bitcoin futures ETFs in 2023, the daily trading average was $34 million.
With the spot Bitcoin ETFs approved in January 2024, the daily trading average is $2 billion, a 54x increase.

 

[Warfare]

Back when there were only Bitcoin futures ETFs in 2023, the daily trading average was $34 million.
With the spot Bitcoin ETFs approved in January 2024, the daily trading average is $2 billion, a 54x increase.

Actually, 58x increase.

 

[Warfare]

Record Volume
Just like that, the new record for spot Bitcoin ETF trading volume is $7.68 billion, with half of it coming from BlackRock.
It broke the previous record of $4.66 billion on launch day.
Current Bitcoin price: $61,534

 

[Warfare]

Grayscale Bitcoin Trust ETF had another big outflow
For February 29, the reported outflow for Grayscale Bitcoin Trust ETF is close to $600 million, which is the second biggest outflow since January 11 2024.