maartunn
4 Days of Spot Bitcoin ETF: This is EVERYTHING you need to know
1. Winners & losers: 🥇 iShares Bitcoin Trust ($IBIT) managed by Blackrock. The ETF has had a positive flow of $1.084 billion, equal to ~25k's bitcoin. 🥈 Second place is for the ETF product of Fidelity, which is $FBTC. This ETF had an inflow of $884 million, equal to ~21k's bitcoin. 🥉 Bitwise ($BITB), 21 Shares ($ARKB), and Invesco's $BTCO also saw inflows of $373 million, $278 million, and $135 million, respectively. 🚩 However, Grayscale's ETF, $GBTC, saw a massive outflow of -$1.627 billion, which is equivalent to ~38k bitcoin. -------------- 💎 2. Flows between funds 💪 The popularity of $IBIT is also seen on the daily flow chart, which is visualized below. It shows that $IBIT has the highest flows on all four ETF-trading days, namely; Day 1: +$117 million Day 2: +$386 million Day 3: +$213 million Day 4: +$373 million 🧘♂️The second place is way more balanced with these statistics: Day 1: Bitwise $BITB - $237m Day 2: Fidelty $FBTC - $195m Day 3: 21SHARES $ARKB - $123m Day 4: Fidelty $FBTC - $359m 🤔And remember Grayscale's $GBTC? That ETF had high outflows for all 4 days. It's hard to speak about a trend, but it would be positive if the selling pressure from $GBTC decreases in the coming days. --------------- 📅3. Daily flows The chart below shows two lines: 🟠 Daily Flows (Excl. GBTC) refers to the daily inflow or outflow from all ETF products except for GBTC. This data only includes the new ETF products. 🟣 Daily Flows include data from all ETF products, including GBTC. This data represents the real flow of funds. The chart shows that there is high demand for the new Spot Bitcoin ETF's, but it has been overshadowed by GBTC. ------------------ 📈 4. Cumulative flows The cumulative value of all ETF products is just increasing. On the launching day, there was a net inflow of $625 million, but by the fourth day, it had already surged to $1.28 billion. At the current price of $42,000 per bitcoin, this amounts to 30,000 bitcoin purchased by the suits.