Bitcoin ETF Debut Marks Initial Decline in Flow Trends

Crypto News – Recently launched spot bitcoin exchange-traded funds (Bitcoin ETFs) are experiencing a combined decrease in investments for the first time since their introduction on Jan. 11. The funds, including BlackRock‘s IBIT and Fidelity’s FBTC, have seen less money coming in compared to the outflows from Grayscale’s GBTC.

Bitcoin ETF Debut Marks Initial Decline in Flow Trends

According to data gathered by Bloomberg Intelligence analyst James Seyffart, on Wednesday, the 10 spot bitcoin ETFs (including GBTC) recorded a net outflow of $158 million. It’s important to note that daily flows can vary significantly. Figures compiled by CoinDesk from the issuers’ websites indicate that the total bitcoin held by all spot ETFs (including GBTC) as of Jan. 24 was approximately 649,000, down from over 660,000 the previous week, marking a decline of around 11,000 tokens. The only fund experiencing negative flows over the week was GBTC, with its total bitcoin in trust decreasing from 592,098 to 523,516.

The Introduction of Bitcoin ETF Sees Inverse Flow Trends for the First Time

Among the other nine funds, BlackRock’s IBIT and Fidelity’s FBTC are leading in terms of holdings, each now possessing more than 40,000 bitcoins as of Jan. 24, compared to 20,000-25,000 just a week earlier. Both funds are also nearing $2 billion in assets under management.

However, the inflows for both funds have slowed over the past several days. For instance, BlackRock added just 1,663 tokens on Jan. 24, its lowest daily addition since its inception, down from 8,705 on Jan. 17.