{"id":9923,"date":"2024-01-18T15:53:56","date_gmt":"2024-01-18T13:53:56","guid":{"rendered":"https:\/\/forklog.com\/en\/us-spot-bitcoin-etfs-reach-27-billion-in-assets\/"},"modified":"2024-01-18T15:53:56","modified_gmt":"2024-01-18T13:53:56","slug":"us-spot-bitcoin-etfs-reach-27-billion-in-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/us-spot-bitcoin-etfs-reach-27-billion-in-assets\/","title":{"rendered":"US Spot Bitcoin ETFs Reach $27 Billion in Assets"},"content":{"rendered":"<p>On January 17, the assets under management (AUM) of spot exchange-traded funds (ETFs) based on the first cryptocurrency in the United States reached 632,000 BTC (~$27 billion), according to research by <a href=\"https:\/\/www.coingecko.com\/research\/publications\/us-spot-bitcoin-etfs?utm_campaign=Data%2BVisualization&#038;utm_medium=social\">CoinGecko<\/a>.\u00a0<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/LiCXWawgbzaM0BIbWGFhgQVjTBcXNImWO5iKGjrY7gzetjmcqkO0LzDdEBTBsX7__-EhIoky9OBjfNLgsl-bo9IF7WgsOQDLaVF1VvtIXnBzIxTPzp52ulqldyJZhxizDZ3x4KudVd5_i5w5egO7kEM\" alt=\"AUM \u0441\u043f\u043e\u0442\u043e\u0432\u044b\u0445 \u0431\u0438\u0442\u043a\u043e\u0438\u043d-ETF \u0432 \u0421\u0428\u0410 \u0434\u043e\u0441\u0442\u0438\u0433 $27 \u043c\u043b\u0440\u0434\"\/><figcaption class=\"wp-element-caption\">AUM of US Spot Bitcoin ETFs. Source: CoinGecko.<\/figcaption><\/figure>\n<p>Grayscale&#8217;s GBTC accounts for 93.4% of all bitcoins held in American bitcoin ETFs. In fiat terms, the product&#8217;s AUM is approximately $25.3 billion.<\/p>\n<p>CoinGecko noted that GBTC was launched as a trust back in 2013, which explains its significant lead. However, after converting to an ETF, the instrument saw an outflow of $1.3 billion as investors began shifting to other funds.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOne of the reasons for the large outflow from GBTC is the high fees. Other providers charge between 0.12% and 0.49%, while GBTC charges 1.5%. Given this, further outflows from GBTC are expected,\u201d the researchers emphasized.<\/p>\n<\/blockquote>\n<p>The second-largest spot bitcoin ETF by assets is BlackRock&#8217;s iShares Bitcoin Trust (IBIT), managing $698.1 million (2.6% of the total).<\/p>\n<p>Fidelity Wise Origin (FBTC) ranks third with $523 million, representing 1.93% of the market share. WisdomTree Bitcoin Trust (BTCW) is currently the smallest fund in the US, managing $3.2 million.<\/p>\n<p>Earlier in January, the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/sec-approves-all-11-spot-bitcoin-etf-applications\">approved<\/a> all 11 applications for spot bitcoin ETFs. Trading commenced the following day.\u00a0<\/p>\n<p>Four days after the launch, the trading volume of the crypto instrument in the US reached $11.1 billion.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 17, the assets under management (AUM) of spot exchange-traded funds (ETFs) based on the first cryptocurrency in the United States reached 632,000 BTC (~$27 billion), according to research by CoinGecko.\u00a0 AUM of US Spot Bitcoin ETFs. Source: CoinGecko. Grayscale&#8217;s GBTC accounts for 93.4% of all bitcoins held in American bitcoin ETFs. In fiat [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9922,"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":[18,1098,569,167],"class_list":["post-9923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-coingecko","tag-etf","tag-research"],"aioseo_notices":[],"amp_enabled":true,"views":"49","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9923","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=9923"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/9923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/9922"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=9923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=9923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=9923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}