ETF Spot BTC Launches - huge success.

Written By Morten Storm

LATEST: 22-01-2024

https://twitter.com/EricBalchunas/status/1748696162725458229

Senior ETF Analyst for Bloomberg.


Despite $GBTC seeing a -$590m outflow gash friday, The Nine overwhelmed it w/ +$623m (3rd best day), $IBIT & $FBTC both >$200m while $BTCO & $HODL had their best hauls to date.

TOT NET FLOWS stand at +$1.2b as Nine's aum hit $4b vs GBTC's -$2.8b, upping aum share to 14%.

Note: the more we think about it and talk to ppl, prob only a small minority of the GBTC outflows are likely going to the Nine right now as much of it was FTX and traders who arb-ed discount.

Also the proportionality of the flows to the size of the firm is almost perfect, indicating flows due to reach/distribution/hustle.

Morten Storm
Previous

Renegade: European Fintech Innovates Crypto-to-Cash Conversions.
Next

How the TradFi Power People changed their narrative: Larry Fink (BlackRock)