Bitcoin ETF

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitwise-bitcoin-etf-trust-among-top-5-by-aum-in-2023/" data-wpel-link="internal">Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023</a><br></p>
<p style="text-align: justify">Bitwise <a href="https://en.coin-turk.com/bitcoin-price-predictions-and-top-performing-altcoins/" data-wpel-link="internal">Bitcoin</a> ETF Trust (BITB) is currently among the top 5% of exchange-traded funds (ETFs) by assets under management (AUM) that have been launched in 2023.</p> 
<h2 id="the-etf-process-at-bitwise">The ETF Process at Bitwise</h2> 
<p style="text-align: justify">Hunter Horsley, co-founder and CEO of asset manager Bitwise, announced on January 18 that BITB had acquired an additional $68 million in Bitcoin (BTC). Horsley highlighted that this brought the total asset inflow to BITB over the last four days to $370 million. Nate Geraci, president of investment advisory firm ETF Store, mentioned in a post that with an AUM of $355 million, BITB ranked as the 25th largest AUM among over 540 ETFs launched in 2023.</p> 
<p style="text-align: justify">However, according to an ETF tracker created by Sprout Finance, BITB’s AUM has depreciated since the writing of this article and is currently around $290 million. According to Bloomberg ETF analyst Eric Balchunas, the newly launched spot Bitcoin ETFs performed better than the other 500 ETFs launched in 2023 as of January 16.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-304155 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/gbtc.jpg" alt="" width="1049" height="465"></p> 
<h2 id="comments-from-a-bloomberg-analyst">Comments from a Bloomberg Analyst</h2> 
<p style="text-align: justify">While other ETFs achieved a volume of $450 million on that day, spot Bitcoin ETFs attracted three times more <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">money</a>, reaching a total volume of $1.8 billion. Data shared by Bloomberg Intelligence analyst James Seyffart shows that the overall trading volume in new spot Bitcoin ETF products reached $10 billion over the last three days.</p> 
<p style="text-align: justify">Among the newly launched spot Bitcoin ETFs, BITB ranks fourth by AUM, while BlackRock’s iShares Bitcoin Trust (IBIT) leads with nearly $500 million. Fidelity’s FBTC and Wisdomtree’s BTCW are in second and third place with $427 million and $321 million, respectively. Bitwise Bitcoin ETF Trust (BITB), being in the top 5% by assets under management, has seen an asset inflow of $370 million in the last four days, purchasing $68 million worth of Bitcoin. There are conflicting reports regarding its AUM value, but it holds a significant position in the ETF market.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitwise-bitcoin-etf-trust-among-top-5-by-aum-in-2023/" data-wpel-link="internal">Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023</a></h5>

Bitwise Bitcoin ETF Trust Among Top 5% by AUM in 2023

Table of Contents

COINTURK NEWS

Other articles published on Jan 18, 2024

Gary Gensler Warns about AI’s Impact to Financial Systems, Doesn’t Touch on Cryptocurrency

Ethereum Layer-2 Scaling Network Blast Announces Airdrop

PLAY Wallet now supports WEMIX3.0 mainnet asset recovery

Open Science Contest Utilizes AI to Identify Potential Parkinson’s Disease Treatments

Anthony Scaramucci says Bitcoin to skyrocket to $170,000 by 2025

Tenderly Elevates Metamask Snap with Sayfer-Verified Security (18 Jan)

Join our free newsletter for daily crypto updates!