Update (Jan. 18, 2024, 11:15 am UTC): This article has been updated to reflect updated ETF data from Sprout Finance.

The Bitwise Bitcoin ETF Trust (BITB) is now in the top 5% of exchange-traded funds (ETF) by assets under management (AUM) launched in 2023.

On Jan. 18, Hunter Horsley, the co-founder and CEO of asset manager Bitwise, announced that BITB took in another $68 million and bought Bitcoin (BTC). Horsley highlighted that this places the total inflow of assets into BITB at $370 million in the previous four days. 

Nate Geraci, the president of the investment advising firm ETF Store, claimed in a post on X (formerly Twitter) that BITB, which only launched four days before, outperforms many ETFs that launched in 2023. Geraci said that by reaching an AUM of $355 million, the ETF would rank in the top 25 of the 540 ETFs launched in 2023. 

BITB’s AUM is now hovering at around $354 million, according to an ETF tracker created by Sprout Finance. This means the ETF’s ranking may have since dropped in the rankings.

On Jan. 16, the newly-launched spot Bitcoin ETFs outperformed 500 other ETFs launched in 2023, according to Bloomberg ETF analyst Eric Balchunas. While the other ETFs clocked a volume of $450 million that day, spot Bitcoin ETFs pulled in a total volume of $1.8 billion. 

Related: Fake spot Bitcoin ETF tweet ‘likely wasn’t the SEC,’ says Blockchain Association director

Meanwhile, data shared by Bloomberg Intelligence analyst James Seyffart showed that the overall trading volume across the new spot Bitcoin ETF products reached $10 billion in the last three days.

ETF ranking by assets under management without GBTC. Source: Sprout Finance 

Among the newly launched spot Bitcoin ETFs, BITB lies in third place by AUM, with BlackRock’s iShares Bitcoin Trust (IBIT) at the top with over $700 million. Fidelity’s FBTC follows in second place with $427 million AUM. 

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