Bitcoin ETF

Bitcoin

Spot

After the 11 Spot Bitcoin ETFs made their debut last week, they experienced a pullback since the first day itself. The fifth day of trading wasn’t an exception and left all the <a href="https://coingape.com/blackrock-fidelity-bitwise-lead-in-3-billion-total-spot-bitcoin-etf-inflow/" target="_blank" rel="noopener">Bitcoin ETFs</a> bleeding. Moreover, Grayscale’s GBTC grabbed the spotlight again, but of course not in a positive way. 
<h2 id="grayscale-bitcoin-etf-registers-massive-outflows-on-day-5">Grayscale Bitcoin ETF Registers Massive Outflows On Day 5</h2> 
According to data by BitMEX Research, the <a href="https://coingape.com/bitcoin-dumping-continues-as-btc-price-tanks-under-41000-is-grayscale-behind-this/" target="_blank" rel="noopener">Grayscale</a> Bitcoin ETF, GBTC, recorded a gigantic net outflow of $579.6 million on Thursday, January 18. Hence, GBTC’s net outflow surged to $2.2 billion. Whilst, in a post on X, James Butterfill, the Head of Research at CoinShares, revealed that the total outflows of GBTC amounted to $1 billion on day 5. 
<figure id="attachment_175275" aria-describedby="caption-attachment-175275" style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" class=" wp-image-175275" src="https://coingape.com/wp-content/uploads/2024/01/20240119_120153-1224x334.png" alt="" width="799" height="218" srcset="https://coingape.com/wp-content/uploads/2024/01/20240119_120153-1224x334.png 1224w, https://coingape.com/wp-content/uploads/2024/01/20240119_120153-300x82.png 300w, https://coingape.com/wp-content/uploads/2024/01/20240119_120153-768x210.png 768w, https://coingape.com/wp-content/uploads/2024/01/20240119_120153-150x41.png 150w, https://coingape.com/wp-content/uploads/2024/01/20240119_120153.png 1498w" sizes="(max-width: 799px) 100vw, 799px">
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 Source: BitMEX Research | X
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For the fifth day of trading, the total net outflow from all 12 Spot Bitcoin ETFs amounted to 131.6 million. On the other hand, the total net inflow this week is recorded to be $131.7 million. The inflow figure is weak considering the massive outflows from the Grayscale Bitcoin ETF. GBTC recorded a whopping $1.66 billion net outflow this week. 
Also Read: <a href="https://coingape.com/bitcoin-overtakes-silver-in-etf-assets-under-management-in-the-u-s/" target="_blank" rel="noopener">Bitcoin Overtakes Silver in ETF Assets in the U.S</a> 
<h2 id="how-did-grayscale-s-rivals-fare">How did Grayscale’s rivals fare?</h2> 
Grayscale’s biggest rival, BlackRock’s iShares Bitcoin Trust (IBIT), generated a net inflow of $735.80 million this week, which is the highest of all. Whilst, Fidelity Wise’s FBTC witnessed a net inflow of $645.60 million, ranking second. The total net inflow from IBIT and FBTC led to an overall positive flow this week by setting off over 80% of GBTC outflows. 
On the fifth day of trading, the IBIT and FBTC <a href="https://coingape.com/just-in-bitcoin-etf-vaults-the-token-past-silver-with-27-5-billion-in-assets/" target="_blank" rel="noopener">Spot ETFs</a> recorded a net inflow of $145.60 million and $177.90 million, respectively. Whilst, ARK 21 Shares (ARKB) witnessed an inflow of $41.80 million and Bitwise’s BITB recorded a $20.10 million net inflow. 
On the other hand, Franklin Templeton’s EZBC, the BTC ETF with the lowest fee, recorded a ‘zero’ net inflow. Moreover, Hashdex’s DEFI and WisdomTree’s BTCW joined in with the same figure. Meanwhile, the Invesco Galaxy Bitcoin ETF (BTCO) generated a substantial net inflow of $59 million. 
Also Read: <a href="https://coingape.com/roundhills-ybtc-merges-bitcoin-etf-with-call-options/" target="_blank" rel="noopener">Roundhill’s YBTC Merges Bitcoin ETF with Call Options</a> 
The post <a href="https://coingape.com/bitcoin-etf-grayscales-gbtc-records-580-mln-net-outflow-on-day-5/">Bitcoin ETF: Grayscale’s GBTC Records $580 Mln Net Outflow On Day 5</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Bitcoin ETF: Grayscale’s GBTC Records $580 Mln Net Outflow On Day 5

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