Find out which Bitcoin ETF holdings will outperform GBTC today.
The nine recently approved spot Bitcoin exchange-traded funds in the U.S. are on track to surpass Grayscale Bitcoin Trust. BTC
+0.73%
According to Vetle Lunde, senior analyst at K33 Research, GBTC holds 400,186 bitcoins as of yesterday, while the “Newborn 9” US spot Bitcoin ETF holds 397,847 coins.
they also famous Yesterday’s net inflow was 6,965 Bitcoin. If this continues it will become bigger than GBTC.
Spot Bitcoin ETFs have proven to be a huge success in the US, with BlackRock’s IBIT offering recording daily inflows of $788.3 million on Tuesday. At this point, the integrated spot ETF generated nearly $10 billion in volume that day.
IBIT also recently surpassed MicroStrategy’s Bitcoin holdings, according to BitMEX Research.
At the same time, Flowdesk executives Reed Werbitt and Greg Guttas said in an interview with The Scoop that these Bitcoin ETFs are kicking off “decades of buy-only TWAPs.”
In other news, the U.S. Securities and Exchange Commission (SEC) said yesterday that it would extend until next month the period to decide whether to approve trading options for BlackRock’s spot Bitcoin ETF.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.