Grayscale, BlackRock and Fidelity hold almost all funds – $1.6 billion on day 3
The trio, which was approved for trading last week, has trumped its rivals with funding from Grayscale, BlackRock and Fidelity leading the 11 spot Bitcoin ETFs currently available for trading. Although these three funds led the way in Tuesday’s trading, they earned a respectable $1.6 billion of the $1.8 billion in total volume traded.
Top 3 Bitcoin ETFs Control 90% of the Market
On the third day of trading, Grayscale, BlackRock, and Fidelity emerged as the undeniable leaders in the growing spot Bitcoin ETF market, accounting for a notable share of 90% of total trading volume.
As Tuesday’s trading session ended, these three market leaders demonstrated their dominance by contributing a combined $1.6 billion to overall trading volume of $1.8 billion.
Together, these three contributed $1.6 billion of the $1.8 billion in total trading volume. Despite a decline in overall trading volume compared to Friday’s high of $3 billion, these market giants maintained an impressive stronghold.
According to Coinpedia, the total trading volume on the first day of trading reached $4.6 billion.
Blackrock is poised to surpass Grayscale as the ‘king of liquidity’
While Grayscale dominates the volume charts, BlackRock, emerging as a potential ‘liquidity king’, is gaining momentum. As highlighted by Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, Grayscale’s Spot Bitcoin ETF, which transitioned to its flagship GBTC fund, has seen significant outflows, shedding more than $500 million since its debut last week.
Balchunas, who shared data on In particular, funds provided by BlackRock and Fidelity have attracted more than $400 million in inflows since trading began.
In comparison, the overall trading activity of the new fund evaluated by Balchunas remains good. Meanwhile, it followed a similar decline pattern observed in $BITO, the most successful organic launch in ETF history, with cumulative volume in the first three days exceeding $9.5 billion.
As the spot Bitcoin ETF market matures, the dominance of Grayscale, BlackRock, and Fidelity indicates a dynamic environment.