Data: For the first time since its launch, Bitcoin ETF has experienced a net outflow
2024/01/26 02:12
For the first time since its trading opened on January 11, the spot
Bitcoin exchange-traded fund (ETF) has shown a net outflow. According to data collected by Bloomberg Intelligence analyst James Seyffart, there was a net outflow of $158 million from ten spot
Bitcoin ETFs (including GBTC) on Wednesday. Additionally, data collected from issuer websites shows that as of January 24, all spot ETFs (including GBTC) held approximately 649,000 Bitcoins in total - down about 11,000 Bitcoins from over 660,000 a week ago.
The only fund with an actual net outflow over the past week was GBTC; the total number of Bitcoins in its trust dropped from 592,098 to 523,516. Amongst other nine funds however BlackRock's IBIT and Fidelity Investments' FBTC took lead positions each holding more than 40,000 bitcoins as of January 24th compared to just between20-25k one week prior. The two funds manage assets close to $2 billion.
However,the inflow speed for these two funds has slowed down in recent days; BlackRock added only1 ,663 bitcoins on Januray24th which is lowest daily increase since it started trading.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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