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BlackRock’s IBIT is still the most popular Bitcoin ETF among the ‘Newborn Nine’.

BlackRock’s Bitcoin ETF IBIT is still trading with lots of money on the third day. People think it could end up owning the most Bitcoin.

In the competition between new Bitcoin investment funds, called the “Newborn Nine”, the third day had a total volume of about $500 million, which was what people in the industry expected. This information is based on the latest market data from January. “Please rewrite this text using simpler words. ”

This continues the strong performance we saw after the investment vehicles were launched.

BlackRock is collecting a lot of Bitcoin.

According to Bloomberg’s ETF expert Eric Balchunas, BlackRock is getting stronger and it’s just a matter of time before they have more Bitcoin than the tech company MicroStrategy.

Balchunas has given some good ideas that are making investors talk. Many are watching closely as BlackRock makes big moves in the cryptocurrency industry.

The BlackRock iShares investment fund is doing really well and could give the Grayscale Bitcoin Trust some competition. The Grayscale Bitcoin Trust is known for being very popular and having a lot of investors.

IBIT got a lot of money, about $497. 7 million, in the first two days. BlackRock bought around 11,500 BTC for its fund.

Fidelity Investments’ FBTC did almost the same as IBIT, with total flows of $422. 3 million during the same time. The ETF’s trading volume was $170. 1 million on the third day and it has stayed the same.

The two ETFs together had more than $3. 1 billion in trading, and most of it was money coming in.

At the same time, the two well-known ETFs – GBTC and ProShares’ BITO – accounted for more than 60% of the total amount traded, with $4. 65 billion and $3. 26 billion, respectively Even though a lot of people are trading, the two ETFs have mostly had more money taken out than put in as investors sell after making back the money they lost last year.

Exceeding the standard limit.

The new Bitcoin ETFs are doing well, especially compared to ProShares’ BITO ETF. This shows that more people are seeing cryptocurrency as a good way to invest their money. BITO was very successful when it first started as an ETF. It set a high standard for other similar investments.

Market experts believe that the early popularity of the ‘Newborn Nine’ could show that Bitcoin ETFs could be successful in the future. Although trading volumes usually decrease after a launch, the steady performance in the first three days shows that there is a strong demand for investing in cryptocurrency.

At the end of the third day, everyone is watching to see if BlackRock’s ETF can keep doing well and beat GBTC in the competition to be the top Bitcoin investment. ETFs are important for big and small investors to get into cryptocurrency. How well they do in the beginning could determine the future of investing in digital money.

Currently, Bitcoin is the most valuable cryptocurrency and its price has increased by 1. 73% in the last 24 hours. BTC is worth $848. 94 billion in total and has been traded for $24. 19 billion in the past 24 hours.

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