Bitwise CEO confirms $370 million inflows for its Bitcoin ETF in blazing four-day debut
Summary
Bitwise Bitcoin ETF Trust (BITB) has reached $370 million in assets under management (AUM) within four days of trading. Some inflows may have come from investors divesting their Grayscale’s Bitcoin Trust ETF shares. BITB ranks in the top 25 out of 540 ETFs launched in 2023 by AUM. It trails behind BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Trust. The trading volume across new spot Bitcoin ETF products reached $10 billion in the last three days. Bitcoin is now the second-largest commodity in the U.S. by AUM. Bitwise had anticipated unprecedented success for BTC ETFs, based on substantial capital influx expected from retail and institutional investors.
