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Find out which Bitcoin ETF holdings will outperform GBTC today.

Funding • March 8, 2024 4:44 AM EST

Posted 1 minute ago In ~

The nine recently approved spot Bitcoin exchange-traded funds in the U.S. are on track to surpass Grayscale Bitcoin Trust. BTC

+0.73%
Hold today.

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.


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© 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.

About the author

Adam is Editor-in-Chief for Europe, Middle East and Africa. He lives in Central Europe and was the editor-in-chief and podcast host at OKX Insights, the former research arm of cryptocurrency exchange OKX. Prior to that, he co-founded and served as Editor-in-Chief of BeInCrypto.com, growing it into one of the leading cryptocurrency media brands. He previously served as Editor-in-Chief of Bitcoinist.com. Before joining the blockchain and cryptocurrency industry, he worked at Looper.com, Grunge.com, and SVG.com. He tweets at @XBT002 and can be emailed at (email protected).

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