11 facts after the BTC ETF is listed in the United States

It has been 11 months since the US spot Bitcoin ETF was listed on January 11.

Here are 11 facts about these financial products:

1. Net inflows now total $34.3 billion, according to Farside Investors. BlackRock’s iShares Bitcoin Trust (IBIT) alone has attracted $35 billion, while Fidelity’s product is second with $12.1 billion in inflows.

2. Since November 6, when Donald Trump was nominated as the winner of the election, eliminating the reputational risk of cryptocurrency for many, the Bitcoin ETF category has attracted $10.8 billion in new capital.

3. The sector saw net inflows on 158 of 231 trading days (68% of the time). The best day (nearly $1.4 billion) was November 7. The largest outflow ($564 million, May 1) was partially attributed to the BTC decline triggered by profit-taking.

4. As of Dec. 10, BlackRock's IBIT had $50.8 billion in assets. That's about $17 billion more than the firm's gold trust (IAU), which launched in 2005, but about $24 billion less than the State Street SPDR Gold Shares (GLD), which went public in 2004.

5. While IBIT’s average daily inflows were $152 million, the same figure for the WisdomTree Bitcoin Fund (BTCW) was less than $1 million.

6. Across the board, with varying degrees of liquidity success, nearly $21 billion has left the Grayscale Bitcoin Trust (GBTC) — a largely expected outcome. The company’s cheaper Bitcoin Mini Trust (BTC), launched on July 31, has attracted nearly $900 million in new funds.

7. As for trading volume, an average of 44.5 million shares of IBIT are traded daily (worth about $2.6 billion at IBIT's current price). Over the past three months, BlackRock's product ranks eighth among all ETFs (by shares), just below the SPDR S&P 500 ETF Trust (SPY).

8. Since the launch of the spot Ethereum ETF in the U.S. on July 23, the capital entering BTC products ($16.8 billion) has been roughly nine times the net inflow into ETH counterparts ($1.9 billion). As a result, ETH ETFs have seen about 11% of the net inflows into Bitcoin ETFs during this period — lower than the 15% to 25% estimated by Bloomberg Intelligence.

9. Institutional buyers of these ETFs include hedge funds, consultants and even pension funds. Jersey City officials said the city's pension fund plans to buy a Bitcoin ETF this month.

10. Data shared by Bloomberg Intelligence shows that Bitcoin ETFs now hold more Bitcoin than Satoshi Nakamoto’s estimated 1.1 million BTC. In other words, that’s about 5% of the total Bitcoin supply.

11. Finally, the value of each fund’s BTC reserves may not be as great as you think, compared to the price they paid for those tokens.

Bitwise executives predicted on Tuesday that bitcoin ETFs will attract more money next year than in 2024. Let's see what happens in the next few weeks and then move on to the industry's prospects.