Bitcoin Spot ETF Welcomes its 12th Trading Day, GBTC Net Outflow Continues to Slow Down, and BlackRock ETF Trading Volume Approaches GBTC.
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Bitcoin Spot ETF 12th Day Data
GBTC Net Outflow Approaching $200 Million, Continuing to Slow Down
Issuer Price War Heats Up
Bitcoin Spot ETF 12th Day Data
Originally, BlackRock’s IBIT trading volume was $115 million, higher than GBTC’s $112 million, one hour after the market opened. Bloomberg ETF analyst James Seyffart even thought that GBTC would finally be overtaken, but in the end, GBTC’s trading volume remained higher than IBIT’s.
The data for the 12th day is as follows:
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Total trading volume on the 12th day: $1.5 billion
Grayscale GBTC trading volume: $570 million
BlackRock IBIT trading volume: $460 million
Fidelity FBTC trading volume: $315 million
Bitcoin Spot ETF asset size reaches $26.7 billion
GBTC Net Outflow Approaching $200 Million, Continuing to Slow Down
James Seyffart and BitMEX Research both pointed out that GBTC’s net outflow is approximately $191 million (4,400 BTC), and it continues to slow down.
Furthermore, on-chain tracking agency Lookonchain indicated that Grayscale has transferred an additional 6,534 bitcoins, worth about $274.9 million, to Coinbase Prime.
To date, Grayscale has already transferred a total of 119,663 bitcoins ($4.91 billion) and still holds 495,290 bitcoins.
Farside Investors data shows the net inflows of various ETFs as follows:
FBTC: $208 million
BITB: $20 million
ARKB: $17 million
According to Ark Invest Daily, Ark Invest bought an additional 58,468 shares of ARK 21 Shares on January 29, worth approximately $2.5258 million.
Issuer Price War Heats Up
Invesco and Galaxy Asset Management’s Bitcoin Spot ETF have reduced their fees from 0.39% to 0.25%.
Currently, the fees for each ETF are as follows:
Bitcoin Spot ETF Fee Table
ETF
GBTC
BlackRock
Further Reading
ETF Trading Market Analysis: A Look at Bitcoin Spot ETF by BlackRock IBIT
SEC Delays BlackRock Ethereum Spot ETF, to Make a Decision on March 10.