9 new spot Bitcoin ETFs have amassed a total of over 150,000 Bitcoin (approximately $6.5 billion) in assets under management, far surpassing the once-dominant GBTC.

Who are these "newcomers"?

BlackRock (IBIT)

Fidelity (FBTC)

Bitwise (BITB)

Ark 21Shares (ARKB)

Invesco (BTCO)

VanEck (HODL)

Valkyrie (BRRR)

Franklin Templeton (EZBC)

WisdomTree (BTCW)

GBTC Losing Ground:

The former king, GBTC, has seen its assets under management plummet by 126,000 Bitcoin (approximately $5.5 billion) since the new ETFs emerged.

GBTC's trading market share has also nearly halved, from 63.9% to 36.4%, in just a few days.

Fresh Money Pouring into the Market:

Total inflows into the new Bitcoin ETFs surpassed $1 billion yesterday, marking a resurgence after four days of outflows last week.

In total, the 9 new ETFs have attracted $6.25 billion in inflows, while GBTC has seen net outflows of $5.23 billion.

Notable Details:

For the first time since January 11th, the daily inflows into FBTC and IBIT exceeded the daily outflows from GBTC.

BlackRock's IBIT has now surpassed the total assets under management of all Canadian Bitcoin ETFs combined.

In Summary:

The emergence of 9 new Bitcoin ETFs is creating a new storm in the market.

The influx of capital into these ETFs is leaving GBTC behind and promises a bright future for Bitcoin ETFs in general.