Bitcoin ETF

Bitcoin

Million

Grayscale Bitcoin Trust

Spot

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In a remarkable development for the cryptocurrency investment landscape, Bitcoin spot ETFs&nbsp;<a href="https://alpha.sosovalue.xyz/?category=ETF">experienced</a> a historic net outflow of $159.04 million on Jan. 24. This marks the largest single-day total net outflow in the history of these financial instruments.
At the forefront of this exodus was Grayscale Investments' Grayscale Bitcoin Trust (GBTC), which recorded a staggering single-day net outflow of $429.28 million. However, this negative trend was not universal across the spot ETF spectrum. Bitcoin ETFs, excluding GBTC, managed to attract net inflows totaling $270 million.
Fidelity's FBTC emerged as a leader in this space, drawing in an impressive $125.50 million in inflows. Close behind was&nbsp;<a href="https://u.today/blackrock-bitcoin-etf-acquires-massive-bitcoin-transfer-from-coinbase">BlackRock's IBIT</a>, which garnered $66.16 million in new investments. Other Bitcoin spot ETFs also contributed to the positive net inflow, indicating diverse investor sentiment within the market.
<h2 dir="ltr" id="bitcoin-etf-tussle">Bitcoin ETF tussle</h2>
Rachel Aguirre, the U.S. Head of BlackRock's iShares Products, recently&nbsp;<a href="https://u.today/blackrocks-bitcoin-etf-huge-success-by-all-metrics-high-ranking-rep-says">offered</a> a positive perspective on the situation. She expressed satisfaction with the launch and the performance in the initial two weeks of IBIT trading.
Her statement suggests that the performance of BlackRock's Bitcoin spot ETF exceeded expectations, instilling confidence in the product's potential in the future. On the flip side, Grayscale Investments, the entity behind the widely known GBTC, made headlines by&nbsp;<a href="https://u.today/grayscale-dumps-214-billion-in-bitcoin-btc-post-etf-approval-details">offloading</a> a substantial amount of Bitcoin, totaling $2.14 billion earlier in the week.
This significant sell-off from Grayscale coincided with a bearish trend on the overall Bitcoin market, causing the cryptocurrency's price to dip near the $38,000 level earlier in the week. As of the latest update, Bitcoin is trading at $40,212, reflecting only a marginal 0.02% decrease in the last 24 hours.
The market remains on edge as investors closely monitor developments within the cryptocurrency space, particularly the contrasting performance of Grayscale's GBTC and other Bitcoin spot ETFs. The dynamics of these recent movements suggest a nuanced landscape for Bitcoin investments, with different players experiencing varying degrees of success and challenges.

Bitcoin Spot ETFs Record Massive $159 Million Net Outflow in Single Day

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