David Edwards
On the fifth trading day, issuers of the Spot Bitcoin exchange-traded fund (ETF) increased their crypto holdings by a net of 10,667 Bitcoin, as trading volumes continued to rise. According to data compiled by the CC15Capital Twitter account (formerly X), on January 17, they added a total of $440 million worth of Bitcoin to their portfolios. Notably, BlackRock’s ETF led the way with the acquisition of 8,700 BTC, valued at nearly $358 million.
The cumulative data reveals that, excluding Grayscale, nine ETFs have collectively purchased close to 68,500 BTC since their inception, currently amounting to approximately $2.8 billion.
However, the positive momentum from ETF-related Bitcoin acquisitions was tempered by ongoing outflows from the Grayscale Bitcoin Trust (GBTC), which saw the offloading of 10,824 BTC, equivalent to roughly $445 million. Since its conversion to a spot ETF on January 11, nearly 38,000 BTC has exited the GBTC.
