Bitcoin ETF Trading Volumes Soar, Outpacing 2023 Launches by Threefold

In a remarkable turn of events, the trading volumes of 10 recently approved spot Bitcoin exchange-traded funds (ETFs) on January 16 have eclipsed the total volume of all 500 ETFs launched in 2023 by more than three times, according to data from Yahoo Finance and Bloomberg.

Cointelegraph reports indicate that on this pivotal day, the 10 spot Bitcoin ETFs collectively achieved over $1.8 billion in total volume, with major contributions coming from industry giants Grayscale, BlackRock, and Fidelity, amassing a substantial $1.6 billion of the overall figure.

Comparatively, the entire trading volume for all 500 ETFs launched in the United States in 2023 amounted to a modest $450 million, as reported by Bloomberg ETF analyst Eric Balchunas.

Leading the charge in net inflows is BlackRock’s iShares Bitcoin Trust, securing an impressive $497 million over the past three days. The total volume for all new spot Bitcoin ETF products surged to nearly $10 billion during the first three days of trading, according to insights provided by Bloomberg ETF analyst James Seyffart and Yahoo Finance data compiled by Cointelegraph.

While Grayscale’s Bitcoin fund maintains its lead in total trading volume, surpassing $5.1 billion, the fund has witnessed significant outflows, with the Grayscale Bitcoin Trust (GBTC) experiencing over $579 million in total outflows since its trading debut on January 11. Analyst Eric Balchunas predicts that BlackRock’s product is poised to continue attracting the most inflows, positioning it as the “most likely to overtake GBTC as Liquidity King.”

Once considered a lucrative avenue for investors, GBTC faced challenges as it saw diminishing interest, with investors opting to reduce exposure. The dynamics of the market, driven by evolving investor sentiments and the availability of spot ETF products, are reshaping the landscape of Bitcoin investment strategies.

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