BTCUSDT chart on Tradingview.com<\/a><\/pre>\nFeatured image from Yahoo Finance, chart from Tradingview<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"On Wednesday, January 10, the US Securities and Exchange Commission (SEC) finally approved the launch of spot Bitcoin ETFs, representing a remarkable event in US trading history.\u00a0 So far, market data on these investment funds have confirmed theories of increased institutional demand for Bitcoin, with over $800 million in total net inflows and $3.6 billion in trading volume recorded across the first two days of trading.\u00a0 Although these inflows are yet to be reflected in\u00a0BTC\u2019s price, as the premier cryptocurrency dipped by 2% in the last week, the spot Bitcoin ETFs have certainly kicked off with a blast which is indicative of potential gains for the world\u2019s largest asset and the general crypto market.\u00a0 Related Reading: Bitcoin ETF Approval Triggers $1.2 Billion Trading Volume And New Highs For BTC Price Spot Bitcoin ETFs Attract Over $1.4 Billion In Two Days – Bloomberg Data In an X post on January 13, Bloomberg ETF analyst Eric Balchunas shared some insight on the impressive performance of the spot Bitcoin ETFs in their debut trading week.\u00a0 Balchunas noted that of the 11 approved spot BTC ETFs, nine have recorded a total inflow of over $1.4 billion. Leading the lot is BlackRock\u2019s IBIT, with an estimated asset inflow of $497.7 million, closely followed by Fidelity\u2019s FBTC, which boasts about $422.3 million in investment.\u00a0 The BTC spot ETFs of Bitwise and ARK\/21 Shares have also produced a significantly positive performance attracting $237.9 million and 105.2 million, respectively.\u00a0 On the other hand, Grayscale\u2019s GBTC has been the market outcast, recording a stunning $579 million in outflows over the first two days of trading.\u00a0 Source: Bloomberg Following the SEC\u2019s approval on Wednesday, investors cashed in heavily on GBTC, which was recently converted from a closed-end fund to a spot ETF.\u00a0SkyBridge Capital founder Anthony Scaramucci has already commented on this trend describing it as one of the potential reasons behind Bitcoin\u2019s dip in the last week.\u00a0 In total, the spot Bitcoin ETF market recorded an impressive net inflow of $818.9 million in its debut trading week. These figures are likely to improve in the next few weeks as selling volume eventually declines. Meanwhile, investors still anticipate the debut of Hashdex\u2019s spot ETF – DEFI – which is undergoing fund conversion from the company\u2019s Bitcoin futures ETF. Related Reading: Spot Bitcoin ETFs Could Trade 8% Above Fair Value: Renowned Expert BTC Price Overview At the time of writing, Bitcoin exchanges hands at $42,980 reflecting a 0.73% loss in the last day. Meanwhile, the token\u2019s daily trading volume has plummeted by 62.33% and is now valued at $16.9 billion. However, with a market cap of $842.23 billion, Bitcoin remains the largest cryptocurrency in the world. BTC trading at $42,916.07 on the daily chart | Source: BTCUSDT chart on Tradingview.com Featured image from Yahoo Finance, chart from Tradingview<\/p>\n","protected":false},"author":581,"featured_media":569457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1039,85326,3799,84647],"class_list":["post-569450","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bloomberg","tag-inflows","tag-sec","tag-spot-bitcoin-etf"],"acf":[],"yoast_head":"\n
Spot Bitcoin ETFs Record Over $800 Million In Net Inflows in Debut Week - Details<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n