Bitcoin ETFs Trading in the USA: First Interim Results

Bitcoin ETFs have been trading in the USA for ten days. They have attracted around $4 billion in capital, as an interim balance sheet shows. Bitcoin financial products in Europe are currently experiencing an outflow of investments towards the USA.

When the US Securities and Exchange Commission announced the initial approval of Bitcoin ETFs on January 10th, there was great enthusiasm in the crypto scene. And these financial products, which represent Bitcoin (BTC) through deposited tokens, are actually generating great interest.

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Ten Bitcoin ETFs are currently on the market

The new ETFs have now accumulated almost $4 billion or around 95,000 Bitcoin, as Bloomberg expert Eric Balchunas calculates on X. For comparison: According to the CoinGecko data service , Bitcoin currently has a global market capitalization of around $800 billion with 19.6 million BTC in circulation. The numbers are important because the Bitcoin community hopes for an inflow of capital through the ETFs and thus rising BTC prices.

In the run-up to the historic SEC decision, analysts had varied widely in their forecasts for demand for Bitcoin ETFs, ranging from $10 billion in the first year to $100 billion. One thing is now clear: Ten Bitcoin ETFs are on the market and among these, the world’s largest asset manager BlackRock and the investment fund Fidelity have managed to find investors. Both were able to break the billion mark, as Bloomberg data shows.

Also important for you: The Grayscale Bitcoin ETF is represented in the lists, which already has a history as a fund and plays a special role with more than 500,000 Bitcoin and almost $23 billion in capital. This is calculated out by Balchunas and other experts because no new capital is being collected there.

On the contrary: Now that Grayscale Bitcoin investors have the opportunity to reorganize their BTC, they are doing so, partly by taking profits and partly by shifting them to other ETFs where lower fees are attractive.

The analysts of the BitMEX crypto exchange published an interesting side note on X. Accordingly, the Bitcoin ETFs in the USA are significantly stimulating the competition and initial trends indicate that Europe is having a difficult time. There are various comparable Bitcoin ETNs listed in the EU, from which a total of a good $100 million was withdrawn last week. BitMEX assumes that there will be a shift to Bitcoin ETFs on American trading venues due to the high fees in Europe.

Conclusion: Bitcoin ETFs in the USA can meet expectations

The second full trading week for Bitcoin ETFs in the USA begins today, Monday. The demonstrable financial interest to date is great and is likely to continue. But why is the Bitcoin price curve turned negative by several percentage points? Apparently the crypto markets themselves had already priced in the approval of ETFs according to the old stock market adage “Buy the rumors, sell the news”.

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