Bitwise spot Bitcoin ETF in top 5% of largest ETFs launched in 2023

0


The Bitwise Bitcoin ETF Trust (BITB) is now in the top 5% of exchange-traded funds (ETF) by assets under management (AUM) launched in 2023.

On Jan. 18, Hunter Horsley, the co-founder and CEO of asset manager Bitwise, announced that BITB took in another $68 million and bought Bitcoin (BTC). Horsley highlighted that this places the total inflow of assets into BITB at $370 million in the last four days. 

Nate Geraci, the president of the investment advising firm ETF Store, said in a post on X (formerly Twitter) that by BITB reaching an AUM of $355 million, the ETF ranked in the top 25 of the 540 ETFs launched in 2023 by AUM.

However, BITB’s AUM dropped in value at the time of writing and is now hovering at around $290 million, according to an ETF tracker created by Sprout Finance. 

On Jan. 16, the newly-launched spot Bitcoin ETFs outperformed 500 other ETFs launched in 2023, according to Bloomberg ETF analyst Eric Balchunas. While the other ETFs clocked a volume of $450 million that day, spot Bitcoin ETFs pulled in a total volume of $1.8 billion

Related: Fake spot Bitcoin ETF tweet ‘likely wasn’t the SEC,’ says Blockchain Association director

Meanwhile, data shared by Bloomberg Intelligence analyst James Seyffart showed that the overall trading volume across the new spot Bitcoin ETF products reached $10 billion in the last three days.

ETF ranking by assets under management without GBTC. Source: Sprout Finance

Among the newly launched spot Bitcoin ETFs, BITB lies in fourth place by AUM, with BlackRock’s iShares Bitcoin Trust (IBIT) at the top with almost $500 million. Fidelity’s FBTC and Wisdomtree’s BTCW follow in second and third place, with $427 million and $321 million respectively. 

Magazine: Bitcoin ETF guru Eric Balchunas has the last laugh at doubters: X Hall of Flame





Source link

Leave A Reply

Your email address will not be published.