Worldwide Digital Asset-Based Exchange Traded Products AUM Rose 5% in Jan. as BTC Spot ETFs Approved – Blockchain News, Opinion, TV and Jobs

The 10 BTC Spot ETFs, featuring issuers like Blackrock, 21Shares, Grayscale, and others, witnessed nine new issuances along with the conversion of Grayscale Trust (GBTC) into an ETF. The nine newly issued products garnered approximately $6.9 billion in inflows in Jan., partially mitigated by the net outflow from Grayscale ETF. Despite this, the total flow resulted in a net inflow exceeding $1 billion for Jan.

BlackRock’s iShares Bitcoin Trust (IBIT) has surged to become one of the top five ETFs of 2024 based on inflows, with $3.2 billion amassed in the first 17 days since its launch on Jan. 11, as reported by Bloomberg Intelligence. The 10 BTC ETFs approved in January are taking advantage of Google’s changed marketing rules that allow ads displaying “cryptocurrency coin trusts” to appear along with results for searches such as “Bitcoin ETF”.

“The light has turned green and the (investor) traffic has started moving,” said Fineqia CEO Bundeep Singh, Rangar referring to the approval of BTC Spot ETFs in the U.S. “More drivers are joining the ETF roadway as their confidence grows in digital assets.”

In Jan., the price of BTC rose 2.5% to $43,300 from $42,300 at the end of last year. The AUM of ETPs with BTC as the underlying asset saw a 6.8% increase in Jan, to $38.0 billion from $35.6 billion recorded at the end of Dec. 2023. These figures highlight the substantial net inflow observed in Jan., particularly following the BTC Spot ETFs approval.

Ethereum (ETH) rose 3.9% to $2,365 in Jan. from $2,277 recorded at the end of Dec. 2023. In the same period, ETH-denominated ETPs AUM increased 1.9% to $9.6 billion from $9.4 billion on Dec. 31, 2023.

ETPs representing a diversified basket of cryptocurrencies decreased 3.6% in AUM during January, to $2.17 billion, from $2.25 billion recorded at the end of 2023.