Home CryptocurrencyAltcoin Bitwise Bitcoin Spot ETF Among Top 5% of Largest ETFs Launched in 2023

Bitwise Bitcoin Spot ETF Among Top 5% of Largest ETFs Launched in 2023

by SuperiorInvest

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

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

Nate Geraci, president of investment advisory firm ETF Store, saying In a post by

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

On January 16, the newly launched Bitcoin spot ETFs outperformed 500 other ETFs launched in 2023, according to Bloomberg ETF analyst Eric Balchunas. While the other ETFs recorded $450 million in volume that day, the Bitcoin spot ETFs raised three times as much for a total volume of $1.8 billion.

Related: Fake Bitcoin ETF Tweet ‘Probably Wasn’t From SEC,’ Says Blockchain Association Director

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

ETF ranking by assets managed without GBTC. Source: Sprout Finance

Among recently launched Bitcoin spot ETFs, BITB ranks fourth by AUM, with BlackRock’s iShares Bitcoin Trust (IBIT) on top with nearly $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 on Skeptics: X Hall of Flame

Source Link

Related Posts