Bitcoin ETF Flows Show Negative Trend For First Time Since Launch
The recently launched spot bitcoin exchange-traded funds (ETFs) have experienced combined negative flows for the first time since their inception on January 11. This is due to the inflows into funds like BlackRock's IBIT and Fidelity's FBTC not keeping up with the outflows from Grayscale’s GBTC. Data shows that the 10 spot bitcoin ETFs saw a net outflow of $158 million on a single day. The total bitcoin held by all of the spot ETFs declined by more than 18,000 tokens in a week. The only fund to see negative flows over the week was GBTC. Despite this, BlackRock’s IBIT and Fidelity’s FBTC are leading, each now holding more than 40,000 bitcoin. However, inflows for both funds have slowed recently. Despite the slowdown, net inflows into the 10 spot ETFs remain significant, with total dollar inflows of $824 million since launch, translating into a net bitcoin addition of about 17,000-20,000 tokens.
