12th day of Bitcoin ETF: GBTC net outflow slows down, BlackRock trading volume approaches GBTC.
Bitcoin spot ETF enters its 12th trading day after listing, with GBTC net outflows continuing to slow down, while BlackRock ETF trading volume continues to approach GBTC.
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Bitcoin spot ETF 12th day data
GBTC net outflows nearly $200 million, continuing to slow down
Issuer price war intensifies
Bitcoin spot ETF 12th day data
Originally, after one hour of trading, BlackRock IBIT trading volume was $115 million, higher than GBTC’s $112 million. Bloomberg ETF analyst James Seyffart even thought that GBTC was finally going to be overtaken, but in the end, GBTC trading volume was still higher than IBIT.
The data for the 12th day is as follows:
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Total trading volume on the 12th day was $1.5 billion
Grayscale GBTC trading volume was $570 million
BlackRock IBIT trading volume was $460 million
Fidelity FBTC trading volume was $315 million
Bitcoin spot ETF assets reached $26.7 billion
GBTC net outflows nearly $200 million, continuing to slow down
James Seyffart and BitMEX Research both pointed out that GBTC net outflows were about $191 million (4,400 BTC) and are continuing to slow down.
Meanwhile, on-chain tracking institution Lookonchain indicated that Grayscale transferred another 6,534 bitcoins worth about $274.9 million to Coinbase Prime.
To date, Grayscale has transferred a total of 119,663 bitcoins ($4.91 billion) and still holds 495,290 bitcoins.
Farside Investors data shows the following net inflows for each ETF:
FBTC: $208 million
BITB: $20 million
ARKB: $17 million
According to Ark Invest Daily, Ark Invest purchased an additional 58,468 shares of ARK 21 Shares on January 29th, worth approximately $2.5258 million.
Issuer price war intensifies
Invesco and Galaxy Asset Management’s Bitcoin spot ETF have lowered their fees from 0.39% to 0.25%,
The current fees for each are as follows:
Bitcoin spot ETF fee table
ETF
GBTC
BlackRock
Further reading
Analysis of the ETF trading market, looking at Bitcoin spot ETF by BlackRock IBIT
SEC delays BlackRock Ethereum spot ETF, decision to be made on March 10th
