United

2024

Bitcoin ETF

<p class="is-style-lead">Investment crypto products’ outflows amounted to $21 million last week.</p> 
<p>According to a <a href="https://blog.coinshares.com/volume-166-digital-asset-fund-flows-weekly-report-3c59276b9833" target="_blank" rel="noopener">CoinShares</a> report, outflows from investment products into digital assets were modest at $21 million last week. However, this figure masks very high Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) 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">
 <img loading="lazy" decoding="async" width="1024" height="962" src="https://crypto.news/app/uploads/2024/01/Screenshot-2024-01-22-at-16.53.57-1024x962.png" alt="Digital asset investment products saw $21m in outflows - 41" class="wp-image-14241097">
 <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 product outflows were minor, totaling $25 million, although trading volumes of $11.8 billion represented 63% of all BTC volumes on trusted exchanges. Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) and Solana (<a href="https://crypto.news/price/solana/">SOL</a>)-based products saw outflows 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 <a href="https://crypto.news/sec-approves-spot-bitcoin-etf-on-accelerated-basis/">spot Bitcoin ETFs</a>.</p> 
<p> You might also like: <a href="https://crypto.news/grayscale-ceo-most-spot-bitcoin-etfs-will-not-survive/"> Grayscale CEO: Most spot Bitcoin ETFs will not survive </a> </p> 
<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 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#BTC</a> price will continue flat/down until <a href="https://twitter.com/hashtag/GBTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#GBTC</a> is liquidated, $25B of selling over the next few weeks. <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Grayscale</a> decision to keep <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#ETF</a> fess at 1.5% will go down as the biggest strategic error in <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#crypto</a> history. GREEDY IDIOTS. <a href="https://twitter.com/saylor?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@saylor</a> <a href="https://twitter.com/starkness?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@starkness</a> <a href="https://twitter.com/aantonop?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@aantonop</a> <a href="https://twitter.com/rogerkver?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@rogerkver</a>… <a href="https://t.co/fjRDfPQgA2" target="_blank">pic.twitter.com/fjRDfPQgA2</a></p>— Chris J Terry (@chrisjterry) <a href="https://twitter.com/chrisjterry/status/1749083546042396681?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 21, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>After six days of trading, the net outflow from GBTC amounted to $2.8 billion. JPMorgan Chase bank experts expect that the fund will lose about $13 billion, of which $10 billion will be transferred by investors to other products from the same sector.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">LATEST: Despite <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$GBTC</a> seeing a -$590m outflow gash friday, The Nine overwhelmed it w/ +$623m (3rd best day), <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$IBIT</a> &amp; <a href="https://twitter.com/search?q=%24FBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$FBTC</a> both &gt;$200m while <a href="https://twitter.com/search?q=%24BTCO&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTCO</a> &amp; <a href="https://twitter.com/search?q=%24HODL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$HODL</a> 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%. <a href="https://t.co/nB57H8Ro8s" target="_blank">pic.twitter.com/nB57H8Ro8s</a></p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1748695062966415491?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">January 20, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p> You might also like: <a href="https://crypto.news/grayscale-has-offloaded-2-14b-in-btc-since-etf-approval/"> Grayscale has offloaded $2.14b in BTC since ETF approval </a> </p>

Digital asset investment products saw $21m in outflows

crypto.news

Other articles published on Jan 22, 2024

Breaking: Chapter 11 or Exit Scam? The Murky Future of TerraUSD and Luna After Bankruptcy

Hold On For Four Months: Analyst Predicts When Bitcoin Price Will Reach New ATH

Vulcan Forged Introduces the Vulcan Weekly Quests

Spot Bitcoin ETFs Embark on Their First Full Trading Week

What is Ponke token, the self-proclaimed degenerate gambler with anger issues

Ripple Fires Back at SEC's Unreasonable Demands, DOGE up as Elon Musk's Xpayments Nears Launch, M...

Join our free newsletter for daily crypto updates!