Almost three months after 11 Bitcoin spot ETFs started trading their total assets under management (AUMs) topped $58.5 billion.
The Grayscale Bitcoin Trust (GBTC) remains the ETF with the highest AUM at $24.33 billion, followed by Blackrock's iShares Bitcoin Trust (IBIT) at $17.24 billion and Wise Origin Bitcoin Trust by Fidelity (FBTC) at $9.9 billion. Meanwhile, Ark 21Shares Bitcoin ETF (ARKB) and Bitwise's Bitcoin ETP (BITB) have topped $2 billion in AUMs, standing at $2.85 billion and $2.16 billion, respectively. VanEck Bitcoin Trust (HODL) currently has AUMs of $529.7 million and Valkyrie Bitcoin Fund's (BRRR) AUMs are $501.8 million.
What could make Grayscale less attractive to investors is its high expense ratio of 1.5%, compared to all other Bitcoin ETFs fees, which are in the range between 0.19% and 0.30% and most of which include fee waivers. The two ETFs with the smallest fees are Franklin Bitcoin ETF (EZBC) at 0.19% and Bitwise at 0.20%. Likely as a result of its high fee, as well as the bankruptcy of Genesis, GBTC has seen the largest outflows since the launch of Bitcoin ETFs, losing $14.7 billion. Namely Genesis was allowed to sell 35.9 million Grayscale Bitcoin Trust shares valued at around $1.6 billion after announcing its bankruptcy. Meanwhile, IBIT topped the list of strongest inflows since the Bitcoin ETFs launch at $13.9 billion.
As Bitcoin continued to jump past all-time high in the range of over $70,000, the Bitcoin spot ETFs added about $125 million worth of Bitcoin on average every day over the past month. The spot Bitcoin ETFs’ trading volumes also increased, despite falling off highs reached in early March. When it comes to the trading volume, BlackRock's IBIT is leading the ETFs with a trading volume of $1.81 billion over the past 24 hours, followed by Grayscale's GBTC at $752.23 million, Fidelity's FBTC at $659.88 million, Ark's ARKB at $225.96 million and Bitwise's BITB at $123.82 million.
Crypto investors are now awaiting the upcoming halving, estimated to occur on April 20, which is likely to impact the price of the world's most widespread digital currency, as well as the Bitcoin ETFs.
