Bitwise Spot Bitcoin ETF in Top 5% of Largest ETFs
19 Jan, 2024 ● Coin news
The Bitwise Bitcoin ETF Trust (BITB) has achieved a ranking within the top 5% of exchange-traded funds (ETFs) in terms of assets under management (AUM) for those launched in 2023.
Bitwise's co-founder and CEO, Hunter Horsley, announced on January 18 that BITB attracted an additional $68 million and invested in Bitcoin.
Horsley pointed out that this brings BITB's total asset inflow to $370 million in just the past four days.
ETF Store President Nate Geraci, in a post on X (formerly Twitter), noted that BITB, having only been launched four days earlier, has outpaced many other 2023 ETFs in performance.
Geraci highlighted that with an AUM of $355 million, BITB would be in the top 25 of 540 ETFs launched this year.
According to Sprout Finance's ETF tracker, BITB's AUM is currently around $354 million, which might have affected its position in the rankings.
On January 16, Bloomberg ETF analyst Eric Balchunas reported that the newly introduced spot Bitcoin ETFs surpassed 500 other ETFs launched in 2023 in terms of performance.
While those ETFs recorded a total trading volume of $450 million that day, spot Bitcoin ETFs amassed a volume of $1.8 billion.
Additionally, Bloomberg Intelligence analyst James Seyffart shared data indicating that the total trading volume for the new spot Bitcoin ETF products reached $10 billion over the past three days.
Among the recently launched spot Bitcoin ETFs, BITB is in third place based on AUM. BlackRock’s iShares Bitcoin Trust (IBIT) leads with over $700 million, followed by Fidelity’s FBTC with an AUM of $427 million.
Sources:
https://cointelegraph.com/news/bitwise-bitcoin-etf-among-top-launched-2023
https://twitter.com/NateGeraci/status/1747827700679471210
https://twitter.com/HHorsley/status/1747815189398081813
