According to available data, the “Newborn Nine” Bitcoin ETFs have collectively accumulated 95,000 BTC, with total assets under management (AUM) approaching $4 billion.
According to Bloomberg ETF analyst Eric Balchunas, this notable capital influx underscores investors' growing interest in digital assets and the increasing adoption of cryptocurrencies in mainstream finance.
Balchunas noted that most ETFs see a drop in trading volume every day after their launch. However, the Newborn Nine continued to see record volume, with volume increasing by 34% on the fifth day of trading.
$1 billion club
BlackRock's IBIT and Fidelity's FBTC were the growth leaders. Both funds saw significant inflows of over $1.2 billion each in this short period and each of them holds just over 30,000 Bitcoin.
While Fidelity's FBTC has slightly higher inflows, BlackRock's IBIT leads the way with $1.4 billion in assets under management, compared to Fidelity's nearly $1.3 billion.
Other notable ETFs include Invesco's ETF, which had its best day on January 19, attracting over $63 million, although its total assets under management did not exceed $200 million. VanEck's ETF performed similarly, surpassing $100 million in assets under management on its sixth trading day.
Meanwhile, assets under management at Valkyrie Investments and Franklin Templeton stood at $71.7 million and $48.6 million, respectively, as of Jan. 19. WisdomTree has not yet surpassed the $10 million mark.
Grayscale outflows
This significant capital inflow into the newly launched Bitcoin ETFs exceeded outflows from the Grayscale Bitcoin Trust (GBTC), whose AUM fell by $2.8 billion over the same period.
GBTC saw its spot Bitcoin stocks decline, resulting in a loss of $1.62 billion in the first four days. This indicates a shift in investor preference towards the new ETFs that offer regulatory clarity and easy access.
Despite the volatility of Bitcoin, which experienced a sell-off over the same period, these ETFs were successful. This success is partly due to the redirection of outflows from GBTC to these new spot Bitcoin ETFs.
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