The competition in the spot Bitcoin ETF market has intensified, with Grayscale Bitcoin Trust (GBTC) experiencing a significant decrease in assets under management (AUM) from $28 billion to $15 billion in just two weeks. New entrants like IBIT and FBTC have quickly gained traction, with IBIT surpassing GBTC in volume and AUM. BlackRock and Vanguard have also made significant moves in the market, accumulating billions in AUM for their Bitcoin ETFs. The SEC's approval of spot BTC ETFs has sparked a surge in ETF holdings, with experts predicting BlackRock's fund to potentially outpace Grayscale in trades. As the competition heats up, the dynamics of the crypto market are undergoing substantial shifts, with ETF flows witnessing significant net outflows from GBTC since its conversion into a spot Bitcoin ETF. The emergence of new players and the potential entry of Wrapped Bitcoin as an ETF could further reshape the landscape, potentially challenging GBTC's dominance.
3% of Bitcoin's supply is held by ETFs. But if Wrapped Bitcoin magically became an ETF tomorrow, it'd immediately be the second largest ETF after GBTC -- roughly 3x larger than the Blackrock ETF, Grayscale's closest competitor by holdings. https://t.co/RxG2vK6njX
3% of Bitcoin's supply is held by ETFs. But if Wrapped Bitcoin magically became an ETF tomorrow, it'd immediately be the second largest ETF after GBTC -- roughly 3x larger than the Blackrock ETF, Grayscale's closest competitor.
Nearly three weeks after the SEC approved spot BTC ETFs, an expert says BlackRock’s fund may outpace Grayscale in trades https://t.co/UOV3oRAkcY
Looking like today wont be the day but obviously not done yet. $GBTC just passed $IBIT in volume. https://t.co/hz4Wb8FxK7 https://t.co/CCcIZ9KWbD
$GBTC stands as the industry's largest Bitcoin investment vehicle by AUM as of 01/26/24, providing investors with exposure to the potential of #Bitcoin within an ETF. For details and disclosures, visit: https://t.co/RSHmZE6JJ2 https://t.co/yu4PtwwEjh
$IBIT way ahead of $GBTC already in volume, imagine falling for the nonsense GreyScale FUD. Imagine getting shaken out because of any FUD period. When you hear FUD on this app, BUY MORE. That's your secret sauce. https://t.co/qZhiKLKaKG
Only about an hour into trading but $IBIT is ahead of $GBTC in volume so far. Today *could* be the first day where one of the newborn nine trades MORE than $GBTC. Currently $155 million to $113 million 👀 https://t.co/BlHpIjU8sN
Blackrock BTC ETF reaches 2bil AUM Vanguard: https://t.co/BMrAyaaJoo
Bitfinex Alpha on-chain analysis explores the dynamics of the crypto market 👀 There's been a substantial shift in ETF flows, with significant net outflows from Grayscale Bitcoin Trust ETF (GBTC) since its conversion into a spot Bitcoin ETF. Read more: https://t.co/MOqttjexSk https://t.co/tjIuVys0B8
NEW: BlackRock continuing to stack more than 52,025 $BTC worth over $2.18 billion for their spot #Bitcoin📷 ETF Pacing to pass @saylor's MicroStrategy bitcoin bag this year 👀 https://t.co/P7E8I9PQXh
After just ten trading sessions, $IBIT has surpassed $BITO while $FBTC, who has been hauling in $160m/day, is a mere $11m from doing so in the ETF AUM race. 1st $GBTC: $21.101B 11y 2nd IBIT: $2.182B 10d 3rd BITO: $1.896B 27m 4th FBTC: $1.886B 10d #forbescrypto https://t.co/ssKhNIlEUs
GBTC started w/ $28+bil AUM lead on spot bitcoin ETF competition… That’s now down to $15bil in two weeks. GBTC = $21bil Nine new ETFs = nearly $6bil Wild.