# Bitcoin ETFs Analysis

*Since the approval of 11 spot Bitcoin ETFs by the US SEC, over $1.5 billion has been invested in these assets, bringing the total ETF holdings to $28.3 billion.*

By [Onchain Curiosity](https://paragraph.com/@thechriscen) · 2024-02-06

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The US SEC approved 11 spot BTC ETFs on January 10, 2024. Since then, more than **$1.58 billion** in netflows have been invested in these assets.

![](https://storage.googleapis.com/papyrus_images/c9bc82d775876da81de48c808c42e3be.png)

Among the 11 Bitcoin ETFs, Grayscale’s ETF (GBTC) has experienced the most substantial net outflow, totaling $5.8 billion. Conversely, BlackRock’s IBIT has attracted approximately $3 billion in net inflows, and Fidelity’s FBTC has gained $2.4 billion over the last 3 weeks.

![](https://storage.googleapis.com/papyrus_images/b25646f7c025a50aa2f467f03fb552f2.png)

A good explanation for GBTC’s significant outflow could be its relatively high fee of 1.5%, leading investors to explore more cost-effective options like BlackRock and Fidelity, both offering a lower fee of 0.25%.

![](https://storage.googleapis.com/papyrus_images/e478d99180fd7937787be56ad07c64dd.png)

Despite the outflows, GBTC maintains its top position among ETF providers, boasting a market share of 73.6%.

![](https://storage.googleapis.com/papyrus_images/0576973c0dc2ab8d112752930b45f6f9.png)

Presently, GBTC holds 476k BTC valued at $20.5 billion in its ETF treasury. Following closely are Fidelity and BlackRock, each holding 62k BTC valued at $2.7 billion.

![](https://storage.googleapis.com/papyrus_images/5b26ebce3b3fed663e336a5c73316704.png)

Overall, the total value of all ETF holdings stands at $28.3 billion, representing 3.31% of the current Bitcoin supply.

![](https://storage.googleapis.com/papyrus_images/b03c96cd0962d63963af0f2b2dc2c27a.png)

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This analysis is part of my 100 Days of Crypto Data challenge. Many thanks to Hildobby for inspiring this Dashboard. For a more comprehensive view, you can check out my [Bitcoin ETFs Overview dashboard on Dune.](https://dune.com/thechriscen/bitcoin-etfs-overview)

**_Stay Curious..._**

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*Originally published on [Onchain Curiosity](https://paragraph.com/@thechriscen/bitcoin-etfs-analysis)*