BlackRock and ETFs
- U.S. Bitcoin ETFs make up to 15% of BTC spot trading — Coinbase (FEB 10, 2024)
- Bitcoin ETFs record third-largest inflow day as BTC price rises above $46,000 (FEB 10, 2024)
- BlackRock, Fidelity Bitcoin ETFs see largest debut month of any ETF in 30 years (FEB 09, 2024)
- ‘Big volume day’ for BlackRock as Bitcoin ETFs notch $1B volume (FEB 08, 2024)
- BlackRock’s Bitcoin ETF reaches top 0.2% of all ETFs so far this year (FEB 07, 2024)
- Bitcoin ETFs lead to record miner reserve BTC outflows (FEB 06, 2024)
U.S. Bitcoin ETFs make up to 15% of BTC spot trading — Coinbase
Bitcoin ETFs record third-largest inflow day as BTC price rises above $46,000
BlackRock, Fidelity Bitcoin ETFs see largest debut month of any ETF in 30 years
BlackRock and Fidelity’s spot Bitcoin exchange-traded funds have tallied more assets in their first month of trading than any ETF launched in the United States over the last 30 years.
Bloomberg Intelligence data shows BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have each secured more than $3 billion in assets in the first 17 trading days, the only ones to do so out of a list of over 5,500 ETFs.
Here's a look at the Top 25 ETFs by assets after 1 month on the market (out of 5,535 total launches in 30yrs). $IBIT and $FBTC in league of own w/ over $3b each and they still have two days to go. $ARKB and $BITB also made list. pic.twitter.com/Yyi1nxukUk
— Eric Balchunas (@EricBalchunas) February 8, 2024
Balchunas said BlackRock and Fidelity’s Bitcoin ETF results are even more impressive, as most other ETFs that ranked on the list were “Bring Your Own Assets” type of ETFs — meaning one investor was behind all of the ETF’s assets under management.
BlackRock and Fidelity’s ETFs, on the other hand, have seen inflows every single trading day since launch, which Balchunas described as “Literally unprecedented.”
Spot bitcoin ETFs now represent *4* of top 25 ETF launches after 1mo on market in 30+yr industry history. IBIT & FBTC now #1 & #2 overall. ~ Nate Geraci @NateGeraci
‘Big volume day’ for BlackRock as Bitcoin ETFs notch $1B volume
Total daily trading volume for spot Bitcoin exchange-traded funds (ETFs) topped a billion dollars on Feb. 7, with BlackRock leading the pack.
On Feb. 8, investor and author Fred Krueger observed that the combined BTC holdings of the newly launched nine ETFs were about to exceed those of the largest corporate holder of the asset, MicroStrategy.
The ETF funds hold around 187,000 BTC as of Feb. 7, whereas MicroStrategy holds 190,000 coins after snapping up another 850 BTC in January, increasing its total holdings to a value of more than $8 billion.
“ETFs are eating the world. They ate every other asset class, and they’re having Bitcoin for dessert,”
Fidelity has a 1-3% bitcoin allocation in their "All-in-One" asset allocation funds in Canada, using spot bitcoin ETFs. The "Conservative" version is posted below.
— Matt Hougan (@Matt_Hougan) February 7, 2024
When and if this become the norm for portfolios in the US, wow... @scottmelker pic.twitter.com/1NgoKhzf2b
https://cointelegraph.com/news/big-volume-day-blackrock-bitcoin-etfs-notch-1b-volume
BlackRock’s Bitcoin ETF reaches top 0.2% of all ETFs so far this year
According to data from YCharts, BlackRock’s ETF flows so far place it in the top 0.16% of ETFs when weighed against the 3,109 ETFs currently trading in the United States.
Balchunas arrived at a slightly different figure of 0.02%, which appears to measure BlackRock’s ETF performance against an estimated 10,000 ETFs worldwide.
It’s worth noting that while the total flows of other U.S. ETFs are being counted from Jan. 1, 2024, spot Bitcoin ETF products were only approved for trading on Jan. 11. This means that the Bitcoin ETFs are at a seven-trading-day handicap when compared to all other products.
https://cointelegraph.com/news/blackrock-bitcoin-now-fifth-largest-etf-flows-this-year
Bitcoin ETFs lead to record miner reserve BTC outflows
Feb. 1 also saw another significant amount of BTC moving out of miner wallets, with 13,500 BTC being sent to exchanges. The report also notes that around 10,000 BTC was sent back to miner wallets on Feb. 2, suggesting that activity could also be attributed to specific mining companies rebalancing wallets.
“This substantial transfer of BTC from miners to exchanges reflects the miners’ response to market conditions and potentially their need to liquidate holdings for operational expenses or risk management.”
The analysts maintain that a significant majority of the Bitcoin supply continues to be tightly held.
The trend of holding among long-term investors reflects a continued belief in the future appreciation of Bitcoin.
https://cointelegraph.com/news/bitcoin-etf-miner-reserve-btc-outflows
