{"id":472809,"date":"2024-01-17T12:06:36","date_gmt":"2024-01-17T12:06:36","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=472809"},"modified":"2024-01-17T12:09:14","modified_gmt":"2024-01-17T12:09:14","slug":"bitcoin-etfs-erupt-with-insane-volumes-3x-greater-than-all-500-etfs-launched-in-2023-combined","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-etfs-erupt-with-insane-volumes-3x-greater-than-all-500-etfs-launched-in-2023-combined","title":{"rendered":"Bitcoin ETFs Erupt With \u201cInsane\u201d Volumes 3X Greater Than All 500 ETFs Launched In 2023 Combined"},"content":{"rendered":"

Spot Bitcoin ETFs (exchange-traded funds) generated $1.8 billion in volume on Jan. 16, three times more than the combined trading volume that same day for all 500 ETFs that were launched in the US in 2023.<\/span><\/p>\n

During the first three days of trading, the new Bitcoin ETFs racked up volume of $10 billion, led by Blackrock, Grayscale and Fidelity.<\/p>\n

“Let me put into context how insane $10b in volume is in first 3 days,” said Bloomberg ETF analyst Eric Balchunas in an X post<\/a>. “<\/span>There were 500 ETFs launched in 2023. Today, they did a COMBINDED $450m in volume. <\/span>$IBIT alone is seeing more activity than the entire ’23 Freshman Class.”<\/span><\/p>\n

BlackRock, Grayscale And Fidelity Continue Spot Bitcoin ETF Dominance<\/span><\/h2>\n

BlackRock, Grayscale and Fidelity accounted for a whopping $1.6 billion of the $1.8 billion <\/span>volume<\/span><\/a> on Jan 16. Among these ETFs, BlackRock’s iShares Bitcoin Trust was the clear leader in terms of attracting net inflows. Over the past three days, the fund raked in more than $497 million.<\/span><\/p>\n

Grayscale’s Bitcoin fund maintains its lead when it comes to trading activity, as it registered more than $5.1 billion in volume. However, the fund has experienced considerable outflows as investors likely seek lower fees in new products. <\/span><\/p>\n

Since it started trading on Jan. 11, the Grayscale <\/span>Bitcoin<\/span><\/a> Trust (GBTC) recorded more than $579 million in total outflows.<\/span><\/p>\n

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LATEST: Day Three volume so far half a billion for the Newborn Nine which is healthy, about the same pattern dropoff rate as $BITO<\/a> (which again was the most successful organic launch in ETF history). $IBIT<\/a> keeping lead to be one most likely to overtake $GBTC<\/a> as Liquidity King. pic.twitter.com\/hoatfSmNpN<\/a><\/p>\n

— Eric Balchunas (@EricBalchunas) January 16, 2024<\/a><\/p><\/blockquote>\n