Excluding GBTC, 9 BTC Spot ETFs have 14% of assets under management

Bloomberg analyst Eric Balchunas reports via X that "a $5.9 billion outflow from the grey GBTC on Friday (local time) was more than offset by $6.23 billion in inflows into nine BTC spot ETFs. In particular, BlackRock IBTC and Fidelity FBTC saw inflows of more than $200 million each, while Invesco BTCO and VanEck HODL saw their largest inflows ever. Together, these nine ETFs have a 14% market share of AUM in the BTC spot ETF market." "It is likely that only a small portion of the GBTC outflows are going into the nine ETFs. Most of the outflows are coming from FTX and arbitrage traders." FTX reportedly held around 22.3 million GBTC as of November last year.