- Newly launched Bitcoin ETFs achieved a record of $10 billion in trading volume in just three days.
- Grayscale’s ETF, GBTC, faces considerable outflows of nearly $600 million.
- BlackRock’s ETF, IBIT, is identified as a potential “Liquidity King” likely to overtake GBTC in trading activity.
In just three days after their introduction, the newly launched Bitcoin exchange-traded funds (ETFs) amassed a staggering $10 billion in trading volume. However, it is expected to experience a substantial net outflow of around $1.173 billion.
Update on the #Bitcoin ETF Cointucky Derby. The ETFs have traded almost $10 billion total over 3 days. Will have updated flows and assets later tonight or tomorrow morning. pic.twitter.com/OnpCshjYJP— James Seyffart (@JSeyff) January 16, 2024
Providing an update on the Bitcoin ETF, Bloomberg ETF analyst James Seyffart revealed that the ETFs collectively traded nearly $10 billion in the first three days. He commented on the success of the launches, stating, “By most any metric — these are all very successful launches. The only caveat to that might be Wisdomtree at just $3.25 million in assets, but it’s only day 3 — this is a LONG race…
The post Bitcoin ETFs Hit $10B Trading Volume — GBTC Outflows, IBIT Takes the Lead appeared first on Coin Edition.