Bitcoin ETF

Bitcoin

James

According to digital asset management firm CoinShares, withdrawals from <a href="https://optimisus.com/market/market-news/over-2-billion-in-shares-of-grayscale-bitcoin-trust-gbtc-have-been-sold-since-its-conversion-to-an-etf/" rel="noopener noreferrer nofollow">Grayscale's Bitcoin ETF (GBTC)</a> have exceeded $5 billion since January 11, outpacing inflows into other funds.  
While the pace of daily redemptions has slowed over the last week, indicating a slowdown in sales, GBTC's net outflows stand at $2.2 billion, while U.S. bitcoin ETFs saw net inflows of only $1.8 billion.  
According to CoinShares' Chief of Research, James Butterfill, the slowdown in daily redemptions indicates a downward trend in GBTC outflows.  
Notably, Coinbase Prime received $289 million in bitcoin from Grayscale on Monday, a significant reduction from the previous week's average daily transfer size of $530 million.  
Despite significant outflows from Grayscale's <a href="https://optimisus.com/market/market-news/grayscale-aims-for-early-bitcoin-etf-approval-by-the-sec-and-adapts-to-a-cash-only-model/" rel="noopener noreferrer nofollow">Bitcoin ETF</a>, analysts at JPMorgan expect a continued slowdown. On Friday, the spot Bitcoin ETF saw net sales of around $15 million. Similarly, BlackRock's Bitcoin ETF sales have slowed.  
Bloomberg Intelligence analyst James Seyffart notes that GBTC has seen withdrawals of more than $5 billion.  
Other bitcoin exchange-traded funds, on the other hand, have seen gross flows of $5.8 billion, with a net inflow of $759 million in the eleven days following the ETFs' introduction.  
The BlackRock iShares Bitcoin ETF (IBIT) has surpassed $2 billion in assets under management (AUM), becoming the first Bitcoin ETF to reach this milestone. 
The post <a href="https://optimisus.com/market/market-news/the-us-bitcoin-etfs-experience-net-inflows-of-only-1-8-billion/" rel="noopener noreferrer nofollow">The US Bitcoin ETFs experience net inflows of only $1.8 billion</a> appeared first on <a href="https://optimisus.com" rel="noopener noreferrer nofollow">Optimisus</a>.

The US Bitcoin ETFs experience net inflows of only $1.8 billion

Optimisus

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