#BTC The Bitcoin Spot ETFs accumulate another 10,600 BTC on day 5

BlackRock's ETF has absorbed the majority of the Bitcoins compared to other funds, while the Grayscale fund continued to record outflows on the fifth trading day.

Spot issuers of Bitcoin exchange-traded funds (ETFs) added another 10,667 Bitcoins (

Bitcoin

down ticks

$ 41,005

) net to their crypto stacks on the fifth trading day amid increasing trading volumes.

Data compiled by the X (formerly Twitter) account CC15Capital for January 17 shows that by the end of the day, they added a net $440 million in Bitcoin to their holdings. BlackRock's ETF made the lion's share of the purchases with 8,700 BTC, worth nearly $358 million.

The data also shows that nine ETFs (excluding Grayscale) have purchased nearly 68,500 BTC since their launch, currently valued at around $2.8 billion.

Recent Bitcoin purchases related to ETFs were partially offset by ongoing outflows from the Grayscale Bitcoin Trust (GBTC), with 10,824 BTC worth about $445 million offloaded. Nearly 38,000 BTC have left GBTC since it was converted to a spot ETF on January 11. Meanwhile, data shared by Bloomberg ETF analyst Eric Balchunas highlighted that the "Newborn Nine" - his nickname for the new spot Bitcoin ETFs excluding GBTC - have seen a 34% increase in daily volume starting from the fifth trading day. "Normally with a hype launch, you see volume consistently decrease each day after the launch, and it is rare to see it come back," he added.

However, it should be noted that the data related to Bitcoin purchases, as reported by ETF managers, is delayed compared to the transaction volume data of each fund due to the delays in settling purchases.

With investors pouring into the new funds, BlackRock and Fidelity's Bitcoin ETFs have totaled over 1 mil