Yesterday marked a significant day for Bitcoin spot exchange-traded funds (ETFs), as they experienced a considerable surge in activity. However, this heightened activity was not the only notable event. In fact, it also turned out to be a day where a substantial amount of capital was withdrawn from these funds.
Based on figures from SoSoValue, it’s reported that Bitcoin spot ETFs collectively saw withdrawals amounting to approximately $284 million on Monday. Fidelity’s FBTC was the leading fund with a withdrawal of around $113.64 million. Similarly, Grayscale Bitcoin Trust ETF (GBTC) experienced an outflow of roughly $89.08 million, bringing its total historical net outflow to an astounding $21.656 billion.
On the same day, funds experiencing withdrawals included ARK 21 Shares’ ARKB and Bitwise’s BITB. With outflows totaling $92.36 million for ARKB and $18.64 million for BITB, this trend could indicate that investors might be adopting a more conservative approach or possibly reevaluating their investment strategies.
BlackRock ETF Emerges as Top Performer among Bitcoin Spot ETFs
Yesterday, as a researcher, I noticed that BlackRock’s IBIT was the exceptional performer among Bitcoin spot ETFs. Uniquely, it was the only fund experiencing a positive flow on Monday. According to SoSoValue data, IBIT attracted $29.46 million in net inflow, boosting its historical cumulative net inflow to an impressive $3.7696 billion.
Based on the current trends, it appears that IBIT has become a preferred option for many investors in the crypto space. Its consistent attraction towards investors even amidst fluctuations in the wider Bitcoin ETF market seems to support this notion.
On the day in question, certain funds, like the Grayscale Bitcoin Trust ETF (GBTC BTC) and VanEck’s HODL, experienced minimal activity. This is because there were no transactions in or out of these funds on that particular day, suggesting a neutral movement in terms of inflows and outflows.
Currently, the aggregate market value of all Bitcoin spot Exchange-Traded Funds (ETFs) worldwide is approximately $105.05 billion. This equates to roughly 5.67% of the overall value of the Bitcoin market. Although a considerable amount of capital might have moved out of these ETFs on Monday, they still maintain a significant role within the cryptocurrency ecosystem.
Currently, the total accumulated net investment into all Bitcoin spot Exchange-Traded Funds amounts to a staggering $35.93 billion.
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2025-01-14 13:13