Data: Bitcoin ETF flows have experienced a net outflow for the first time since its launch

2024-01-26 09:56:02

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ChainCatcher news, the spot Bitcoin exchange-traded funds (ETFs) have experienced their first net outflow since trading opened on January 11, according to data collected by Bloomberg Intelligence analyst James Seyffart. On Wednesday, 10 spot Bitcoin ETFs (including GBTC) had a net outflow of $158 million. Additionally, data collected from the issuers' websites shows that as of January 24, the total number of Bitcoins held by all spot ETFs (including GBTC) was approximately 649,000, down from over 660,000 a week earlier, a decrease of about 11,000 Bitcoins.

The only fund that experienced actual net outflows in the past week was GBTC, with the total number of Bitcoins in its trust declining from 592,098 to 523,516. Among the other nine funds, BlackRock's IBIT and Fidelity's FBTC are leading, with each fund holding over 40,000 Bitcoins as of January 24, compared to 20,000-25,000 a week earlier. The assets under management for the two funds are close to $2 billion.

However, the inflow rate for these two funds has slowed in recent days, with BlackRock adding only 1,663 Bitcoins on January 24, marking the lowest daily increase since trading began.

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