Balances across US spot bitcoin ETFs have hit a record high of 900,636 BTC, worth around $63 billion.
US spot bitcoin ETFs had positive inflows of $1 billion in total last week.
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Posted July 19, 2024 at 2:46 am EST.
Bitcoin’s volatility over the last few weeks might have ordinarily sent crypto investors into a state of panic, but a resurgence of inflows into US spot bitcoin exchange-traded funds (ETFs) suggests otherwise.
Data from Glassnode on July 17 shows that balances across these funds now sit at an all-time high of 900,636 BTC as of Thursday. In US dollar terms, that equates to more than $63 billion across the 11 spot Bitcoin ETFs.
It might have been the drawdown in bitcoin’s price that attracted a bulk of these inflows. Glassnode found that Bitcoin ETFs started to see their first significant tranche of positive inflows — $1 billion in total last week — around the same time that bitcoin dropped under the $54,000 market.
Traders have attributed much of the recent market volatility to the German government’s massive sell-off spanning more than three weeks, despite the country’s authorities claiming that the scale of their trades were “gentle on the market” with “no direct influence on price.”
A decline in Bitcoin miners’ profitability, which could potentially prompt them to sell their holdings, could also have played a part in the negative price action. However, analysts at Glassnode suggest the impact miners have on the market is not quite what it used to be.
“Miners have historically been a primary source of sell-side pressure, however their supply relevance does decrease with each halving event,” said Glassnode in the firm’s latest weekly report examining the state of onchain activity.
Comparing net flows between miners and ETF onchain wallets, Glassnode found that flows from the latter are “likely to have a market influence of around 4x to 8x larger than for miners.”
July 19, 6:33 a.m. ET: This article has been updated to correct the all-time high BTC figure in the body of the article from 600,636 to 900,636
FAQs
Bitcoin ETFs
| Symbol | ETF Name | 1 Year % |
|---|
| BITB | Bitwise Bitcoin ETF Trust | +22.98% |
| HODL | VanEck Bitcoin Trust Shs of Benef Interest | +23.22% |
| BTCW | WisdomTree Bitcoin Fund | +23.98% |
| BRRR | Valkyrie Bitcoin Fund | +22.87% |
5 more rowsBlackRock's $20 Billion IBIT Fund Is World's Biggest Bitcoin (BTC) ETF - Bloomberg.
What's the point of bitcoin ETFs? ›
Bitcoin futures ETFs are funds that bundle Bitcoin futures contracts. They provide investors without the means or desire to invest directly in cryptocurrency a way to gain exposure to these volatile and sometimes lucrative assets. You can purchase them on official exchanges.
Is FBTC a spot bitcoin ETF? ›
Fidelity Wise Origin Bitcoin Fund (FBTC)
FBTC was launched on January 10, 2024, after the SEC's vital approval of spot ETFs. Notably, Fidelity Investments has completely waived the expense fees until July 31, 2024, following which it will start charging customers 0.25%.
What is the disadvantage of Bitcoin ETF? ›
Disadvantages of Crypto ETFs
1 When buying shares of an ETF, you pay your brokerage's trade fees and the fund's expense ratio. Crypto ETFs have expense ratios from 0.39% to 1.5%, much higher than the transaction fees charged by crypto exchanges. 9.
What is the best performing ETF in last 5 years? ›
100 Highest 5 Year ETF Returns
| Symbol | Name | 5-Year Return |
|---|
| XNTK | SPDR NYSE Technology ETF | 20.84% |
| IGM | iShares Expanded Tech Sector ETF | 20.56% |
| FTXL | First Trust Nasdaq Semiconductor ETF | 20.54% |
| QQQ | Invesco QQQ Trust Series I | 20.50% |
93 more rowsTop 100 Highest Dividend Yield ETFs
| Symbol | Name | Dividend Yield |
|---|
| ULTY | YieldMax Ultra Option Income Strategy ETF | 60.97% |
| SQY | YieldMax SQ Option Income Strategy ETF | 60.84% |
| BITO | ProShares Bitcoin Strategy ETF | 58.29% |
| TILL | Teucrium Agricultural Strategy No K-1 ETF | 58.25% |
93 more rowsThe leading fund by YTD inflow was the Vanguard S&P 500 ETF at 42.5 billion U.S. dollars.
Which fund owns the most Bitcoin? ›
The largest holder in this category is BlackRock's iShares Bitcoin Trust, which has approximately 347,767 BTC under management. In total, ETFs, public and private companies own almost 1,481,218 BTC, more than 7% of the total supply.
How many spot Bitcoin ETFs are there? ›
These ETFs provide investors with direct exposure to Bitcoin's price movements without the need to buy, store, or manage Bitcoin themselves. They function similarly to traditional ETFs but focus specifically on BTC as the underlying asset. There are eleven spot Bitcoin ETFs available today in the United States.
These shares are priced to reflect the current spot price of bitcoin and can be traded on traditional stock exchanges. Spot bitcoin ETFs make it easier for retail investors and traders to buy and sell an asset tied to the current value of bitcoin without needing to hold bitcoin itself.
Does Fidelity have a spot Bitcoin ETF? ›
The Fidelity Wise Origin Bitcoin BTC -1.06% Fund (FBTC) is a spot bitcoin ETF that tracks the price of bitcoin. Fidelity filed for its spot bitcoin ETF in June 2023, shortly after BlackRock filed for one. The U.S. Securities and Exchange Commission approved its ETF, along with 10 others, on January 11, 2024.
What is the best bitcoin ETF to buy? ›
7 Best Cryptocurrency ETFs to Buy
| ETF | Expense ratio |
|---|
| iShares Bitcoin Trust (ticker: IBIT) | 0.25% |
| ProShares Bitcoin Strategy ETF (BITO) | 0.95% |
| Roundhill Bitcoin Covered Call Strategy ETF (YBTC) | 0.95% |
| Global X Blockchain ETF (BKCH) | 0.50% |
3 more rowsJul 8, 2024
So 1 share of FBTC is 40.88 / 46,250 = 0.0008839 BTC. You need 46,250 / 40.88 = 1131 shares of FBTC to own 1 BTC. There's some NAV to spot price difference, but that's the rough math.
Which is better, IBIT or Arkb? ›
The ETFs ARK 21Shares Bitcoin ETF (ARKB) and iShares Bitcoin Trust ETF (IBIT) track the CME CF Bitcoin Reference Rate - New York Variant Index - USD and belong to the same industry segment: ARKB is less expensive with a Total Expense Ratio (TER) of 0.21%, versus 0.25% for IBIT.
What is the return on a Bitcoin ETF? ›
| Month End As of 08/31/2024 | Since Inception 01/11/2024 |
|---|
| Franklin Bitcoin ETF - Market Price Return (%) | 25.73 |
| Franklin Bitcoin ETF - NAV Return (%) | 26.27 |
| CME CF Bitcoin Reference Rate - New York Variant (%) | 26.18 |
IBIT is more expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.2% for BITB. Run a side-by-side ETF comparison of IBIT and BITB below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
What is the best blockchain ETF? ›
Return comparison of all blockchain ETFs
| ETF | 1 month in % | 1 year in % |
|---|
| Global X Blockchain UCITS ETF USD Accumulating | -18.44% | +54.67% |
| iShares Blockchain Technology UCITS ETF USD (Acc) | -15.17% | +50.93% |
| WisdomTree Blockchain UCITS ETF USD Acc | -15.03% | +48.87% |
| Invesco CoinShares Global Blockchain UCITS ETF Acc | -9.47% | +39.93% |
2 more rowsIBIT is preferable for those seeking an ETF structure with competitive fees and direct exposure to Bitcoin, while GBTC suits investors seeking exposure to Bitcoin's price movements despite potentially higher fees and the risk of trading at premiums or discounts.
