Bitcoin ETF Issuers Acquire Over 86,000 BTC
Bitcoin ETFs have seen a strong volume of trading, with GBTC contributing slightly more than half of the volume. The issuers, except for Grayscale, have collectively acquired over 86,000 BTC at an average price of $42,000, an investment of $3.63 billion.
This high trading activity demonstrates investors’ ongoing interest in recently launched Bitcoin ETFs. Eric Balchunas, a Bloomberg ETF analyst, has shifted his perspective on the percentage of GBTC outflows directed towards the “Newborn Nine” Bitcoin ETFs, estimating it to be closer to 35%. James Seyffart reported on X that Bitcoin ETFs had robust trading activity, with today’s volume exceeding $2 billion.
(With inputs from Shikha Singh)
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