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
about
649,000
versus
more
than
660,000
a
week
earlier,
a
decline
of
roughly
11,000
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.
Among
the
other
nine
funds,
BlackRock’s
IBIT
and
Fidelity’s
FBTC
are
leading
the
way,
with
each
now
holding
more
than
40,000
bitcoin
as
of
Jan.
24
versus
20,000-25,000
for
each
one
week
ago.
Both
are
also
closing
in
on
$2
billion
in
assets
under
management.
However,
inflows
for
both
funds
have
slowed
over
the
past
several
days.
BlackRock,
for
example,
added
just
1,663
tokens
on
Jan.
24,
its
weakest
daily
addition
since
opening
for
business,
and
down
from
8,705
on
Jan.
17.
Despite
the
slowdown
over
the
last
week,
net
inflows
the
10
spot
ETFs
opened
for
business
on
Jan.
11
remain
sizable.
Seyffart’s
Bloomberg
colleague
Eric
Balchunas
calculated
total
dollar
inflows
of
$824
million
since
launch,
which
translates
into
a
net
bitcoin
addition
of
about
17,000-20,000
tokens.
