Who's Winning the Bitcoin ETF Championship?

Thank you to 1,847 subscribers! Since the Bitcoin ETF en masse approval on January 10, 2024, nine fund managers are vying for the top spot. ETF asset flows typically follow power law distributions, meaning those who take the lead tend to stay there.

Let's dive into the numbers and explore who's winning.

GBTC: The Veteran Giant

Grayscale Bitcoin Trust (GBTC) stands tall, a seasoned player amidst fresh-faced competitors. With a 10-day total volume nearing $12 billion, it's clear they've been around the block(chain). But hold on, they're not sitting pretty; they're also facing a net outflow of almost $5 billion over a 10-day period.

What does this mean? GBTC is be feeling the heat as investors explore new options, especially those charging much less in fees.

The New Kids on the Block

Enter the newcomers. From iShares to Valkyrie, these brand-new Bitcoin ETFs are making waves. And the waves are made of cash—flows, to be exact. Blackrock's iShares Bitcoin Trust (IBIT) is already showing promise with $2B in total Assets Under Management (AUM).

To put that number in perspective, IBIT is the third largest ETF in AUM launched since 2023. In less than three weeks, it's larger than every ETF (except two) launched 55 weeks ago. That's not just a good start; it's a sprint out of the gates.

The Future? Promising.

With over $6B pouring into these new ETFs - again, over a three-week period - optimism isn't just warranted; it's practically mandatory. It's a signal that the market is ripe for expansion and that investors are ready to diversify their Bitcoin exposure.

GBTC is leading by volume (outflows), and the new ETFs are leading by momentum (inflows).

So, who's winning the Bitcoin ETF game? It's a bit early to call, but one thing's for sure: the game itself is winning.

Just before pushing "publish" on this post - I learned $8 trillion AUM Charles Schwab might be throwing their hat in the ring for a Bitcoin ETF as well.

The future of Bitcoin ETFs? Not just promising...it's exhilarating.

Are you considering adding a Bitcoin ETF to your portfolio?

Whenever you’re ready, here's how I can help you:

I can give a presentation for your company, conference or event, educating on AI and crypto topics.

I average about a dozen presentations on all things high-tech per month, and would love to help you. I've trained major law firms, brokerage firms & wirehouses, and private capital firms.

Just shoot me a LinkedIn message and let me know the topic(s) you’d like to learn.

Thanks for reading! - Spence

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