After the approval of Bitcoin spot ETF, it seems that it has not reached the expected level of popularity.
Data from digital asset management company CoinShares shows that Bitcoin spot ETFs, including BlackRock, Franklin Templeton, and Invesco, had a net inflow of $871 million in the first three days of trading. Among them, BlackRock ranked first with a capital inflow of $723 million, followed closely by Fidelity with a capital inflow of $545 million. However, Grayscale's Bitcoin ETF saw an outflow of $1.18 billion.
Analysts pointed out that after obtaining approval, Grayscale directly converted its previous $28 billion Bitcoin trust into a Bitcoin ETF. However, the transaction fees charged by Grayscale are slightly higher than those of its competitors, causing some investors to transfer funds from Grayscale to other companies' Bitcoin ETFs. Excluding the outflow of funds from Grayscale, the newly issued 10 Bitcoin ETFs have attracted slightly more than $2 billion.
However, since the approval of Bitcoin ETFs, Bitcoin has fallen by about 6%. Zach Pandl, Managing Director of Grayscale's research department, analyzed, &#34;It is natural for investors to take profits after a significant increase in valuation.&#34;
Media quoted Ilan Solot, Co-Head of Digital Assets at Marex Solutions, as saying that the approval of Bitcoin ETFs is by no means a large-scale success. The latest price trend of Bitcoin shows that, so far, Bitcoin ETFs have not made a profound impression for the highly anticipated product.
The overall performance of these Bitcoin spot ETFs is also inferior to the Bitcoin futures ETF launched by ProShares in October 2021, which attracted $1 billion in the first two days.
At the same time, some brokers refuse to provide trading for the new Bitcoin ETFs. Vanguard Group, the world's second-largest asset management company, stated that these new products &#34;do not align with the balanced, long-term investment portfolios they offer.&#34;

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According to analysis, the latest price trend of Bitcoin indicates that so far, Bitcoin ETF has not made a profound impression on the market for highly anticipated products.

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In the first three days of its listing, the Bitcoin spot ETF raised less than 900 million US dollars, which can hardly be considered a success.