Bitcoin (BTC) ETFs See $17B in Net Inflows Since January, Independent of Price Rise

Bitcoin (BTC) ETFs have attracted $17 billion in net inflows since their introduction in January, reflecting genuine demand and adoption

Bitcoin (CRYPTO: BTC) ETFs have seen net inflows of $17 billion so far in 2023, Bloomberg analyst Eric Balchunas highlighted.

This is significant as it shows genuine demand and adoption for Bitcoin ETFs, as opposed to false data.

The inflows come irrespective of the price of Bitcoin, which has been recovering from a price slump to around $53,000.

What Happened: ETFs in the U.S. currently hold 900,000 Bitcoins, which is about 4.3% of the total Bitcoin supply, as noted by Nate Geraci, president of The ETF Store.

With assets totaling around $60 billion, these ETFs control about 5% of Bitcoin’s market value, which presently stands at $1.3 trillion.

See More: Best Cryptocurrency ETFs For Long Term Investment

Earlier this week, several prominent U.S. ETF issuers, including BlackRock (NYSE:BLK), Fidelity, Grayscale, and Bitwise, revealed fee structures for their upcoming spot Ethereum ETFs.

Most issuers, including BlackRock, set fees at 0.25%, while Grayscale’s fee for its Ethereum Trust is notably higher at 2.5%.

Grayscale also plans to launch a Mini Ethereum ETF, which will carry an additional fee of around 0.15%.

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