Bitcoin

Spot Bitcoin ETFs Inflow Reaches Over $240 Million For First Time

Key Points:

  • Spot Bitcoin ETFs inflow reached $247 million on the 13th trading day.
  • Grayscale GBTC sees a notable $221 million outflow, but the rate has slowed since the ETF launch, dropping to $192 million on Monday.
In a recent market update provided by SoSoValue, data reveals that on the 13th trading day, a total spot Bitcoin ETFs inflow of $247 million was recorded across all funds.
Spot Bitcoin ETFs Inflow on the 13th trading day

Read more: Bitcoin Spot ETF and Futures ETF: Differences To Make The Right Investment Choice

Bitcoin Spot ETFs Inflow See Varied Fortunes with $247M

Notably, Grayscale GBTC observed a significant fund outflow of approximately $221 million, whereas BlackRock IBIT attracted a fund inflow of about $299 million.

Other key performers in the market include Fidelity FBTC with a net inflow of $119 million, Bitwise’s BITB with $22 million, Ark 21Shares’ ARKB with $17 million, CSOP BTCO with $6 million, Franklin’s EZBC with $3 million, and WisdomTree’s BTCW with $2 million in net inflows.

Remarkably, the trend in outflows at GBTC has been slowing since the ETFs were introduced, decreasing from an average of $470 million in the initial six days to $192 million as of the latest data on Monday, as reported by research firm BitMEX.

Over the last week, daily flows exhibited consistent negativity, with approximately 20,000 Bitcoins leaving the funds from January 23 to January 26. The last day of spot Bitcoin ETFs inflow was recorded on January 22, when the spot funds collectively added just over 1,200 Bitcoins.

In the broader market context, Bitcoin‘s price, which dipped below $39,000 last week amid increased selling pressure, has rebounded. As of the latest update, it has surged to $43,400, marking a notable 9% increase from levels observed a week ago. Investors continue to closely monitor the evolving dynamics of the spot Bitcoin ETF landscape amidst these fluctuations.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Best Crypto Presales to Watch This November: Get in Early on These Potential Breakout Coins

So, you’re on the lookout for the next big thing in crypto? Aren’t we all?…

2 hours ago

Robinhood Crypto Now Supports Solana Trading Again

Robinhood Crypto has expanded its U.S. platform with the addition of Solana, Pepe, Cardano, and…

7 hours ago

Missed Out on Chainlink Early Gains? This Layer-1 Project is Set to Explode to $15 After Mainnet Launch

If you’ve been following the crypto space, you already know that Chainlink (LINK) has been…

7 hours ago

BlackRock BUIDL Fund Expanded to New Blockchains to Boost Accessibility

BlackRock BUIDL funds have been expanded to Arbitrum, Aptos, Avalanche, Optimism, and Polygon.

8 hours ago

Metaplanet Bitcoin Holdings Helps Company Earn $28 Million in Profit

Tokyo-based Metaplanet Bitcoin holdings grew by $28 million, doubling to 1,018.17 BTC since late September.

8 hours ago

This website uses cookies.