2024

United

Bitcoin ETF

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Investment crypto products’ outflows amounted to $21 million last week.</p>
 <p>According to a CoinShares report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (BTC) trading volumes last week, totaling $11.8 billion, seven times the average weekly trading volume in 2023.</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14241097">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2024/01/22/1e20ca7cb77576eaa9ff85742a8de389.webp.webp">
   <img decoding="async" width="1024" height="962" src="https://cdn.thebittimes.com/images/2024/01/22/1e20ca7cb77576eaa9ff85742a8de389.webp" alt="Digital asset investment products saw $21m in outflows - 1"> 
  </picture>
  <figcaption class="wp-element-caption">
   Source: CoinShares
  </figcaption>
 </figure>
 <p>Geographically, capital inflows into the United States totaled $263 million, while Canada and Europe saw outflows of $297 million. Analysts suggest that such trends are explained by the migration of assets to the United States.</p>
 <p>Bitcoin <a rel="noopener noreferrer nofollow" title="product" href="https://thebittimes.com/tag/product.html">product</a> <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a>s were minor, totaling $25 million, although trading volumes of $11.8 billion represented 63% of all BTC volumes on trusted exchanges. Ethereum (ETH) and Solana (SOL)-based <a rel="noopener noreferrer nofollow" title="product" href="https://thebittimes.com/tag/product.html">product</a>s saw <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a>s of $14 million and $8.5 million, respectively.</p>
 <p>Analysts note that ETP activity is currently dominating overall trading activity. Incumbent issuers with higher costs have been hit in the U.S., with capital outflows totaling $2.9 billion since the launch of spot Bitcoin ETFs.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Grayscale CEO: Most spot Bitcoin ETFs will not survive
 </div>
 <p>Since launch, these newly issued ETFs have gained $4.13 billion, outpacing losses from more expensive existing ETPs. Investors saw the recent price decline as an opportunity to add to short Bitcoin investment products, receiving an influx of $13 million. Net inflows into U.S. ETFs have been $1.2 billion since launch.</p>
 <p>Senior IT architect at BTCData Chris Jay Terry predicted an outflow of another $25 billion from the largest spot Bitcoin ETF GBTC.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">Looks like #BTC price will continue flat/down until #GBTC is liquidated, $25B of selling over the next few weeks. #Grayscale decision to keep #ETF fess at 1.5% will go down as the biggest strategic error in #crypto history. GREEDY IDIOTS. @saylor @starkness @aantonop @rogerkver… pic.twitter.com/fjRDfPQgA2</p>— Chris J Terry (@chrisjterry) January 21, 2024
   </blockquote>
  </div>
 </figure>
 <p>After six days of trading, the net <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a> from GBTC amounted to $2.8 billion. JPMorgan Chase bank experts expect that the fund will lose about $13 billion, of which $10 billion will be transferred by investors to other <a rel="noopener noreferrer nofollow" title="product" href="https://thebittimes.com/tag/product.html">product</a>s from the same sector.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">LATEST: Despite $GBTC seeing a -$590m <a rel="noopener noreferrer nofollow" title="outflow" href="https://thebittimes.com/tag/outflow.html">outflow</a> gash friday, The Nine overwhelmed it w/ +$623m (3rd best day), $IBIT &amp; $FBTC both &gt;$200m while $BTCO &amp; $HODL had their best hauls to date. TOT NET FLOWS stand at +$1.2b as Nine's aum hit $4b vs GBTC's -$2.8b, upping aum share to 14%. pic.twitter.com/nB57H8Ro8s</p>— Eric Balchunas (@EricBalchunas) January 20, 2024
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Grayscale has offloaded $2.14b in BTC since ETF approval
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/digital-asset-investment-products-saw-21m-in-outflows-tbt77315.html">https://thebittimes.com/digital-asset-investment-products-saw-21m-in-outflows-tbt77315.html</a></p>

Digital asset investment products saw $21m in outflows

TheBitTimes

Other articles published on Jan 22, 2024

Spot Bitcoin ETFs now Hold a total of 95,000 $BTC After Six Days Trading

Netflix SciFi Series director invests $4m in Dogecoin, new P2E gaming meme coin gains traction

XRP Price Within Triangle Tests Support, Is It The Best Time To Buy Ripple?

Net Short Position on 10y T-Note Futures at Record Level as Hedge Funds Stay Bearish

Counterstrike Cases: An Astonishing $1 Billion Spent in a Thriving Marketplace

Vulcan Forged Introduces the Vulcan Weekly Quests

Join our free newsletter for daily crypto updates!