Bitcoin Spot ETF First Week Trading Data Analysis

Recently, the U.S. Securities and Exchange Commission officially approved the listing of 11 Bitcoin Spot ETFs. How did these ETFs perform in their first week? What impact do they have on the Bitcoin market?

Basic Information on ETF

As of January 19:

• The total assets under management of 11 ETFs is approximately $26.975 billion, a decrease of 8.41% compared to the first day of listing.
• Top three by scale: Grayscale (235.37 million USD ), iShares (11.99 million USD ), Fidelity (10.17 million USD )
• 8 ETFs that have disclosed their holdings collectively hold 635,700 BTC, of which Grayscale holds 567,000 BTC.
• 6 ETFs have a management fee rate of 0%, while Grayscale maintains a high fee rate of 1.5%.

First Week Trading Performance

• 11 ETFs averaged a decline of 14.80%
• The average daily price volatility is 5.63%, higher than Bitcoin's 4.78% during the same period.
• Total trading volume in 6 days is 16.691 billion USD, with an average of 2.782 billion USD per day.
• Cumulative net inflow of funds is $1.208 billion, with a net inflow of $628 million on the first day.

Impact on the Bitcoin Market

• The price of Bitcoin has dropped by 12.09% from its recent high to around $41,000.
• American investors are optimistic, while Asian investors are cautious.
• Market purchasing power has increased, on-chain transaction activity has improved.
• The accumulation trend of Bitcoin is increasing, indicating confidence in future price movements.

Overall, the Bitcoin Spot ETF injects new funds into the market, but there is still a distance to drive a new round of "institutional bull market". The market still holds expectations for future Bitcoin halving and other factors, and the interaction between ETF and Bitcoin price is worth further observation.