{"id":11536,"date":"2024-03-12T20:25:46","date_gmt":"2024-03-12T18:25:46","guid":{"rendered":"https:\/\/forklog.com\/en\/blackrocks-spot-bitcoin-etf-aum-surpasses-200000-btc\/"},"modified":"2024-03-12T20:25:46","modified_gmt":"2024-03-12T18:25:46","slug":"blackrocks-spot-bitcoin-etf-aum-surpasses-200000-btc","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/blackrocks-spot-bitcoin-etf-aum-surpasses-200000-btc\/","title":{"rendered":"BlackRock&#8217;s Spot Bitcoin ETF AUM Surpasses 200,000 BTC"},"content":{"rendered":"<p>Just two months after the <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">launch<\/a> of the first spot Bitcoin ETFs in the US, the assets under management of BlackRock&#8217;s IBIT fund have <a href=\"https:\/\/www.ishares.com\/us\/products\/333011\/ishares-bitcoin-trust\">exceeded<\/a> 200,000 BTC ($14.6 billion).<\/p>\n<p><!--more--><\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"698\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-949-1024x698.png\" alt=\"1-949\" class=\"wp-image-228136\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-949-1024x698.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/1-949-300x205.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/1-949-768x524.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/1-949.png 1119w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ranking of spot Bitcoin ETFs by asset volume. Data: <a href=\"https:\/\/bitcointreasuries.com\/#etfs\">BitcoinTreasuries<\/a>.<\/figcaption><\/figure>\n<p>The combined figure for the nine &#8220;new&#8221; ETFs (excluding Grayscale&#8217;s &#8220;converted&#8221; GBTC) is about 420,000 BTC, roughly 2% of the total issuance of digital gold.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"636\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/k33-1024x636.png\" alt=\"k33\" class=\"wp-image-228137\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/k33-1024x636.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/k33-300x186.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/k33-768x477.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/k33-1536x954.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/k33.png 1767w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Dynamics of <span data-descr=\"assets under management\" class=\"old_tooltip\">AUM<\/span> of &#8220;new&#8221; Bitcoin ETFs. Data: <a href=\"https:\/\/twitter.com\/VetleLunde\/status\/1767468218682114165\">K33 Research<\/a>.<\/figcaption><\/figure>\n<p>Second in AUM among the &#8220;new&#8221; products is Fidelity&#8217;s FBTC with over 128,000 BTC, followed by Ark Invest&#8217;s ARKB with approximately 38,000 BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"in\" dir=\"ltr\">[2\/4] Same data in BTC terms <a href=\"https:\/\/t.co\/fTQZCC0QVl\">pic.twitter.com\/fTQZCC0QVl<\/a><\/p>\n<p>\u2014 BitMEX Research (@BitMEXResearch) <a href=\"https:\/\/twitter.com\/BitMEXResearch\/status\/1767451880945250551?ref_src=twsrc%5Etfw\">March 12, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Last week, IBIT surpassed MicroStrategy in AUM, a firm renowned for its steadfast position on the leading cryptocurrency. However, the company founded by Michael Saylor acquired an additional 12,000 BTC, bringing its &#8220;digital balance&#8221; to 205,000 BTC.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"619\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/public-1024x619.png\" alt=\"public\" class=\"wp-image-228138\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/public-1024x619.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/public-300x181.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/public-768x464.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/public.png 1112w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Ranking of public companies by number of bitcoins on balance. Data: <a href=\"https:\/\/bitcointreasuries.com\/#etfs\">BitcoinTreasuries<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;However, IBIT is likely to soon surpass the business analytics company in Bitcoin assets,&#8221; <a href=\"https:\/\/www.theblock.co\/post\/281965\/blackrock-ibit-spot-bitcoin-etf-200000-btc\">experts at The Block suggested<\/a>.<\/cite><\/p><\/blockquote>\n<p>Bloomberg analyst James Seyffart noted that the AUM of Bitwise&#8217;s BITB fund recently surpassed the $2 billion mark.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We now have five US spot <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> ETFs over $2 billion in assets with <a href=\"https:\/\/twitter.com\/search?q=%24BITB&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BITB<\/a> joining the club<\/p>\n<p>Out of ~3,500 US ETPs there are only 445 with over $2 billion in assets<\/p>\n<p>Going a step further \u2014 only 157 have more than $10 Billion. <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> &#038; <a href=\"https:\/\/twitter.com\/search?q=%24IBIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$IBIT<\/a> are there. <a href=\"https:\/\/twitter.com\/search?q=%24FBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$FBTC<\/a> is getting close <a href=\"https:\/\/t.co\/Yc7N3OBquH\">https:\/\/t.co\/Yc7N3OBquH<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1767318826461389270?ref_src=twsrc%5Etfw\">March 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"wp-block-heading\">Declining GBTC Dynamics<\/h2>\n<p>Over two months, GBTC&#8217;s assets fell by 37% \u2014 from 619,000 BTC to 388,000 BTC, likely due to <a href=\"https:\/\/u1f987.com\/en\/news\/grayscales-proposed-bitcoin-etf-management-fee-surprises-analysts\">higher management fees<\/a>. Now, Grayscale&#8217;s spot Bitcoin ETF AUM is slightly less than the combined figure of its competitors.<\/p>\n<p>Seyffart noted that the rise in digital gold prices offset the decline in dollar terms \u2014 the value of cryptocurrency held by GBTC remained at $28 billion, roughly matching pre-conversion levels.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">~$11 billion in outflows for <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> since converting to an ETF. and it currently has about the same AUM that it had when it converted. ($28.6 bln vs $28 bln) Price appreciation is a helluva drug. Bull market subsidy is in full effect here.<\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1767323954459316499?ref_src=twsrc%5Etfw\">March 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>K33 Research analyst Vetle Lunde predicted a slowdown in fund outflows from Grayscale.<\/p>\n<h2 class=\"wp-block-heading\">Encouraging Inflows<\/h2>\n<p>As of March 11, net inflows into US spot Bitcoin ETFs amounted to $505.5 million, despite $494.1 million outflows from GBTC.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/soso.webp\" alt=\"soso\" class=\"wp-image-228139\"\/><figcaption class=\"wp-element-caption\">Inflows and outflows in spot Bitcoin ETFs as of March 11. Data: <a href=\"https:\/\/sosovalue.xyz\/assets\/etf\">SoSoValue<\/a>.<\/figcaption><\/figure>\n<p>Largest inflows:\u00a0<\/p>\n<ul class=\"wp-block-list\">\n<li>IBIT \u2014 $562.9 million;<\/li>\n<li>FBTC \u2014 $215.5 million;<\/li>\n<li>HODL \u2014 $118.9 million.<\/li>\n<\/ul>\n<p>VanEck representatives introduced a zero management fee for ETF investments until March 31, 2025, &#8220;because they strongly believe in Bitcoin.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">IMPORTANT UPDATE!<\/p>\n<p>Because we believe in <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> so much, starting tomorrow, you can invest in VanEck Bitcoin Trust (HODL) with no fees until March 31st, 2025.*<\/p>\n<p>*During the period commencing on March 12, 2024, and ending on March 31, 2025, the Sponsor will waive the entire\u2026<\/p>\n<p>\u2014 VanEck (@vaneck_us) <a href=\"https:\/\/twitter.com\/vaneck_us\/status\/1767227350108794991?ref_src=twsrc%5Etfw\">March 11, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Researchers at The Block observed that daily inflows into IBIT on March 8 <a href=\"https:\/\/www.theblock.co\/post\/281965\/blackrock-ibit-spot-bitcoin-etf-200000-btc\">exceeded $10 billion<\/a> for the first time; the total figure for &#8220;new&#8221; ETFs surpassed $20 billion.<\/p>\n<h2 class=\"wp-block-heading\">High Turnover<\/h2>\n<p>Trading volume for new products is also significant \u2014 on March 11, it reached $6.91 billion (the fourth highest in recorded history).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/volume-8.webp\" alt=\"volume-8\" class=\"wp-image-228140\"\/><figcaption class=\"wp-element-caption\">Dynamics of trading volumes of spot Bitcoin ETFs. Data: <a href=\"https:\/\/www.theblock.co\/data\/crypto-markets\/bitcoin-etf\/bitcoin-spot-etf-volumes\">The Block<\/a>.<\/figcaption><\/figure>\n<p>The highest turnover was recorded on March 5 \u2014 $9.93 billion. At that time, Bitcoin reached a new price high above $69,000 for the first time since November 2021.\u00a0<\/p>\n<p>On March 11, IBIT&#8217;s share of total trading volume was $3.05 billion. GBTC and FBTC figures were $1.59 billion and $1.42 billion, respectively.\u00a0<\/p>\n<p>The combined market share of spot Bitcoin ETFs from BlackRock and Fidelity <a href=\"https:\/\/www.theblock.co\/data\/crypto-markets\/bitcoin-etf\/bitcoin-spot-etf-market-share\">exceeded 60%<\/a>.<\/p>\n<p>At the time of writing, digital gold is trading around $70,500. Over the past seven days, it has risen by 5.5%, according to <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.\u00a0<\/p>\n<p>Earlier, weekly inflows into cryptocurrency investment products reached a record $2.69 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Just two months after the launch of the first spot Bitcoin ETFs in the US, the assets under management of BlackRock&#8217;s IBIT fund have exceeded 200,000 BTC ($14.6 billion).<\/p>\n","protected":false},"author":1,"featured_media":11535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[865,569,1150],"class_list":["post-11536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blackrock","tag-etf","tag-news-plus"],"aioseo_notices":[],"amp_enabled":true,"views":"44","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11536","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11536"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11535"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}