Spot Bitcoin ETFs scoop up another 10,600 BTC on day 5

BlackRock’s ETF sucked up the most Bitcoin compared to other funds, while Grayscale’s fund continued to see outflows on trading day five.

Spot Bitcoin exchange-traded fund (ETF) issuers added another net 10,667 Bitcoin 
BTC $41,501 to their crypto stacks on their fifth trading day amid increasing trading volumes.Data compiled by X (formerly Twitter) account CC15Capital for Jan. 17 shows that a net $440 million in Bitcoin was added to their holdings at the end of the day. BlackRock’s ETF accounted for the lion’s share of the purchases with 8,700 BTC, worth nearly $358 million.
The data also shows that nine ETFs (excluding Grayscale) have purchased nearly 68,500 BTC since their launch, currently worth around $2.8 billion.
The recent ETF-linked Bitcoin buys were partially offset by continued outflows from the Grayscale Bitcoin Trust (GBTC), with 10,824 BTC worth roughly $445 million offloaded. Nearly 38,000 BTC has left GBTC since it was converted to a spot ETF on Jan. 11.
Meanwhile, data shared by Bloomberg ETF analyst Eric Balchunas highlighted the “Newborn Nine” — his nickname for the new spot Bitcoin ETFs excluding the GBTC — saw a 34% jump in daily volume as of the fifth day of trading.
“Normally with a hyped-up launch you see volume steadily decrease each day post-launch, rare to see it reverse back up,” he added.