Spot Bitcoin ETFs Hit $10B in AUM: Details

The recently approved spot Bitcoin exchange-traded funds (ETFs) have officially hit a major milestone, securing $10 billion in assets under management (AUM). It has only been a month since the offerings were approved by the United States Securities and Exchange Commission (SEC).

As reported earlier by TheCoinRise, BlackRock and Fidelity’s Spot Bitcoin ETFs secured positions among the top 10 exchange-traded funds experiencing the highest inflows in January. The two ETFs saw inflows worth around $5 billion in the same month, which is a lot considering that the approval from the SEC came on January 10 and trading began the next day. 

Spot Bitcoin ETFs’ AUM Skyrockets

As per the data from BitMEX Research, the net flows for nine spot Bitcoin ETFs reached $2.7 billion on February 9th, and they are currently led by BlackRock’s IBIT offering, which currently has BTC holdings worth $4 billion. 

On the other hand, the second position is currently held by Fidelity’s FBTC, with over $3.4 billion in BTC under management (AUM). 

On the other hand, Fidelity is also interested in an Ethereum offering, the decision on which was recently postponed by the SEC. The regulator asked for another 45 days “so that it has sufficient time to consider the proposed rule change and the issues raised.”

ARK 21Shares’ Spot Bitcoin ETF Reaches $1B

The ARK 21Shares’ spot Bitcoin ETF also reached the $1 billion milestone and confirmed that it holds around $1 billion in BTC in its portfolio. Interestingly, in the last 30 days, Grayscale’s GBTC has witnessed significant outflows, totaling $6.3 billion. On February 9th, the fund experienced its lowest daily outflow volume since conversion, with only $51.8 million exiting the fund.

“I thought the Nine would get a bit weaker as GBTC outflows subsided but they’re getting stronger,” said Bloomberg analyst Eric Balchunas on X.

Biggest Debut Month for an ETF in 30 Years

It is important to note that the debut of spot Bitcoin ETFs from BlackRock, the world’s largest asset management firm, and Fidelity marked a historic milestone, boasting the most substantial inaugural month for an ETF in the United States in the past three decades. 

Balchunas noted that BlackRock and Fidelity are in a “league of [their] own.” Additionally, BTC ETFs from ARK 21Shares and Bitwise have secured spots in the top 25 for the most significant debuts, with rankings of 20th and 22nd place, respectively.

Moreover, the ProShares Bitcoin Strategy ETF, a futures-based product introduced in October 2021, achieved a notable seventh-place ranking.