Bitcoin exchange-traded funds (ETFs) experienced an unprecedented debut, attracting a staggering $4.3 billion in inflows on their first day of trading. This historic achievement marked the largest Day One splash in ETF history, according to data shared by Bloomberg's senior ETF analyst Eric Balchunas.
Leading ETFs in Inflows:
- iShares Bitcoin Trust ETF (IBIT): This BlackRock Inc. ETF led the pack, securing over $1 billion in inflows on its first day. It charges an annual fee of 0.25%, reduced to 0.12% for the first 12 months for assets up to $5 billion.
- Grayscale Bitcoin Trust (GBTC): Transitioning from a Trust fund to a spot Bitcoin ETF, GBTC attracted over $2 billion in inflows, making it the largest Bitcoin ETF globally with nearly $29 billion in assets under management. It has the highest annual fee (1.5%) among spot Bitcoin ETFs.
Additional Top Performers:
- Fidelity Wise Origin Bitcoin Fund (FBTC): Ranked third with $673 million in inflows.
- ARK 21Shares Bitcoin ETF (ARKB): Managed by Cathie Wood's ARK Invest, it attracted $275 million.
Less Successful ETFs:
- Valkyrie Bitcoin Fund (BRRR), WisdomTree Bitcoin Fund (BTCW), and Hashdex Bitcoin Futures ETF (DEFI): Recorded below $10 million each in inflows.
Market Conditions:
- At the time of reporting, Bitcoin was trading at $46,279, with a market capitalization of $900 billion.
The substantial inflows on the first day underscore the immense investor interest in Bitcoin ETFs, signifying a landmark moment in the cryptocurrency and ETF industries. These impressive debut figures hint at the growing acceptance and adoption of Bitcoin within the broader financial landscape.