Despite Grayscale’s Bitcoin sales impacting the market, new spot ETFs have been accumulating the asset aggressively, with approximately $5.6 billion worth acquired in the first ten days of trading, according to CC15Capital.<\/p>\n\n\n\n
The nine newly launched spot Bitcoin ETFs have collectively purchased around 134,000 BTC since January 11. These funds have been instrumental in driving Bitcoin’s price above $42,000.<\/p>\n\n\n\n
However, it’s important to note that this figure doesn’t include outflows from Grayscale, which has seen its GBTC holders rebalance their portfolios to lower-fee and higher-yield funds, exerting selling pressure on the spot markets.<\/p>\n\n\n\n
Notable Buyers<\/strong><\/p>\n\n\n\n BlackRock and Fidelity have been among the most significant purchasers of Bitcoin through these ETFs. BlackRock has acquired 49,952 BTC worth $2 billion, while Fidelity has bought 43,855 BTC worth $1.8 billion as of January 25. Ark 21Shares follows as the third-largest buyer, acquiring 13,285 BTC worth $555 million, trailed by Bitwise with 12,840 BTC valued at $536 million.<\/p>\n\n\n\n Grayscale’s Outflows Slowing<\/strong><\/p>\n\n\n\n Despite the positive inflow of Bitcoin into spot ETFs, Grayscale’s outflows have been a significant factor. Grayscale experienced outflows of 116,507 BTC. However, there are signs that these outflows are slowing, with just $255 million or around 6,000 BTC leaving on January 26, according to BitMEX Research.<\/p>\n\n\n\n Overall, the trend in Bitcoin accumulation through spot ETFs remains positive, with new players, such as Schwab, expected to enter the market, further shaping the cryptocurrency narrative.<\/p>\n\n\n\n Schwab, with its substantial $8.5 trillion in assets under management, is not expected to remain on the sidelines in the growing Bitcoin ETF landscape.<\/p>","protected":false},"excerpt":{"rendered":" Despite Grayscale’s Bitcoin sales impacting the market, new spot ETFs have been accumulating the asset aggressively, with approximately $5.6 billion worth acquired in the first ten days of trading, according to CC15Capital.<\/p>","protected":false},"author":1,"featured_media":4257,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[50,46],"class_list":["post-4252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-etf"],"_links":{"self":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/comments?post=4252"}],"version-history":[{"count":1,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4252\/revisions"}],"predecessor-version":[{"id":4253,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/posts\/4252\/revisions\/4253"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media\/4257"}],"wp:attachment":[{"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/media?parent=4252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/categories?post=4252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stoneblock.hr\/hr\/wp-json\/wp\/v2\/tags?post=4252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}