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How Bitcoin ETFs fared over their first five months

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There is now a benchmark for how long it took Grayscale to fall from the largest AUM on the bitcoin side, and time will tell if it's longer or shorter ether.

Spot bitcoin ETFs are approaching their five-month anniversary. The ETFs, particularly the freshly launched ones, have had unprecedented levels of success, smashing records and commanding public attention. In particular, BlackRock’s IBIT has been the main focus, becoming a leader in inflows and volumes as it attracted investors by being attached to the world’s largest asset manager while boasting a competitive 0.25% fee.

Grayscale was holding about 619,220 BTC when the spot ETFs started trading, worth over $28.5 billion at the time. Meanwhile, IBIT started with a seed amount of $10 million and has been using inflows to grow its AUM. So, the general trend that has emerged is that GBTC's AUM has been on the decline while the other ETFs have been growing, allowing them to put pressure on GBTC’s initial market dominance. On May 29, IBIT took that top spot, dethroning Grayscale as the spot bitcoin ETF with the most assets.

Many of the same issuers are tailoring their S-1s for spot Ethereum ETFs after their 19b-4s got the green light last month. Once again, Grayscale will start with a sizable pot of ETH worth about $11 billion at current prices.

 

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