In March, the trading volume of Bitcoin spot ETF exceeded 100 billion US dollars, nearly three times that of February and January. Bloomberg ETF analyst Eric Balchunas pointed out that IBIT has taken the lead in trading volume, accounting for nearly 50%. It is worth noting that the latest data on fund flows shows that ARKB of Ark Investment has surpassed GBTC in net outflows for the first time…
(Previous summary:
Bloomberg: Taiwan 00940 is too strong, “surpassing all Bitcoin spot ETFs”, estimated to reach 8 billion pounds in 30 days after listing
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(Background supplement:
Currency Market Morning Report: Bitcoin surpasses 67,500, Ethereum approaches 3,500 US dollars, focusing on spot ETF net flows
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Table of Contents
Trading volume of Bitcoin spot ETF exceeds 100 billion US dollars in March
$IBIT dominates the trading volume
ARKB’s net outflow surpasses GBTC for the first time
Since its listing on January 11, the US Bitcoin spot ETF has quickly become the second-largest single commodity ETF in the US and has become an important reference for investors’ interest in Bitcoin purchases.
Looking back at the data for March, it is surprising that the trading volume of the Bitcoin spot ETF exceeded 100 billion US dollars, reaching 111 billion US dollars, nearly three times the trading volume of February and January.
Source: Eric Balchunas Post
Among them, BlackRock’s Bitcoin spot ETF “IBIT” has the largest trading volume, surpassing Grayscale’s GBTC in February. Eric Balchunas then showcased how IBIT took over the market share of trading volume from GBTC with the following chart. He stated:
From the chart below, it can be seen that on March 28, the trading volume of $IBIT accounted for as high as 49.13%, higher than GBTC’s 20.41%.
Source: Eric Balchunas Post
HODL15Capital’s today’s statistics show that among the rankings of Bitcoin holdings by funds, companies, and mining companies (excluding exchanges, governments, etc.), there are a total of 5 well-known Bitcoin spot ETFs, including:
GBTC: The largest Bitcoin holder, holding 328,000 BTC
IBIT: The second-largest Bitcoin holder, holding 256,700 BTC
FBTC: The fourth-largest Bitcoin holder, holding 146,000 BTC
ARKB: The sixth-largest Bitcoin holder, holding 44,662 BTC
BITB: The seventh-largest Bitcoin holder, holding 31,762 BTC
It can be seen that this product is highly popular in the market. According to the latest fund flow data from Farside Investors, Bitcoin spot ETF had a net inflow of 40.3 million US dollars yesterday (2), reversing the net outflow of 85.7 million US dollars on the previous day, but it is not considered significant data.
It is worth noting that yesterday, the ETFs that experienced net outflows besides GBTC (which has continued to experience outflows every trading day since its conversion to an ETF) were ARKB, jointly launched by Ark Investment and 21Shares. After a net outflow of 300,000 US dollars on the 1st, it had an outflow of 87.5 million US dollars (approximately 1,300 BTC) yesterday, surpassing GBTC’s 81.9 million US dollars.
This is the first time that GBTC’s net outflow has been surpassed by other ETFs. For GBTC, yesterday was a relatively low outflow day, with an average outflow of 254 million US dollars per day over the past 5 trading days. In the past three months, a total of over 15.1 billion US dollars have flowed out.
Nevertheless, the current assets under management (AUM) of GBTC are still the largest among ETFs, exceeding 21.68 billion US dollars, higher than the second-largest IBIT, which has an AUM of 16.95 billion US dollars. At the same time, ARKB ranks fourth among ETFs with an AUM of 2.86 billion US dollars.
Bitcoin ETF flow chart (in millions of US dollars). Source: Farside Investors
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