The data for the fourth day on which spot Bitcoin ETFs are traded in the US is complete. And the numbers are once again extremely impressive. Bloomberg analyst Eric Balchunas presented the final data for day 4 of the spot Bitcoin ETFs via X, highlighting the strong performance of the newly approved spot Bitcoin ETFs (all 10 approved ETFs minus Grayscale which converted its GBTC Trust into an ETF), collectively termed the “Newborn Nine.”
2 Spot Bitcoin ETFs Among Top-5 Launches By AUM
Balchunas conveyed the burgeoning success of these ETFs, noting, “Day Four was a good one, the ROLLING NET FLOWS grew to +$1.2b after the Newborn Nine pulled in $914b on Wednesday, their best day yet, overwhelming the $450 out of GBTC. The ‘Nine’ have now taken in $3b and traded $5.4b in the first four days (abnormally high numbers).”
This influx of investment has particularly favored BlackRock’s IBIT, which has now amassed over $1 billion ($1.081 billion), with Fidelity’s FBTC ($882.3 million) and Bitwise’s BITB ($373.3 million) trailing behind.
The robust growth of these ETFs, however, does not solely signify a shift of capital from Grayscale’s GBTC. Balchunas elaborated, “Even if every penny of GBTC outflows went to them (it hasn’t), this is normal stuff. ETFs have been taking money from high-cost mutual funds for decades, and it still helped them grow and get mojo which has led to millions of new invs. So get used to it, the ‘Nine’ gonna steal from more than GBTC too. Anything high cost is vulnerable now. This is the way.”
On a specific query about IBIT’s inflow surpassing its trading volume on day 4, Balchunas suggested, “Some large custom creation prob came in,” indicating significant transactions by possibly institutional investors.
The success of these spot BTC ETFs is not just confined to their own spher
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Author: Jake Simmons
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