tl;dr
The recently launched spot bitcoin exchange-traded funds (ETFs) have experienced a first-time combined negative flow since their opening on Jan. 11, with BlackRock's IBIT and Fidelity's FBTC failing to keep pace with the exits from Grayscale’s GBTC. Data collected by Bloomberg Intelligence analyst J...
The recently launched spot bitcoin exchange-traded funds (ETFs) have experienced a first-time combined negative flow since their opening on Jan. 11, with BlackRock's IBIT and Fidelity's FBTC failing to keep pace with the exits from Grayscale’s GBTC. Data collected by Bloomberg Intelligence analyst James Seyffart shows a net outflow of $158 million for the 10 spot bitcoin ETFs on Wednesday, with the total bitcoin held by all spot ETFs declining by more than 18,000 tokens. Despite a slowdown in inflows over the past several days, BlackRock’s IBIT and Fidelity’s FBTC are leading the way, each holding more than 40,000 bitcoin as of Jan. 24 versus 20,000-25,000 for each one week ago. Despite the slowdown, net inflows for the 10 spot ETFs remain sizable since opening for business on Jan. 11, with a total dollar inflow of $824 million since launch, adding about 17,000-20,000 tokens.
The group of recently launched spot bitcoin exchange-traded funds (ETFs) are seeing combined negative flows for the first time since they opened for trade on Jan. 11 as money moving into funds like BlackRock's IBIT and Fidelity's FBTC has failed to keep pace with the exits from Grayscale’s GBTC. According to data collected by Bloomberg Intelligence analyst James Seyffart, the 10 spot bitcoin ETFs (GBTC included) saw a net outflow of $158 million on Wednesday. Day-to-day flows can, of course, be mercurial. Numbers compiled by CoinDesk from the issuers' websites shows total bitcoin held by all of the spot ETFs (GBTC included) as of Jan. 24 of 642,458 versus 660,540 a week earlier, a decline of more than 18,000 tokens. The only fund that saw actual negative flows over the week was GBTC, which saw its total bitcoin in trust fall to 523,516 from 592,098.
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