Bitcoin ETF

Bitcoin

Spot

<div class="cryptonews">
 <p class="is-style-lead">Spot Bitcoin ETFs witnessed a net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a> of $247 million for the first time a week.</p>
 <p>This divergence in fund flows was particularly evident among the other nine ETFs, excluding Grayscale, which collectively saw a net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a> of $467 million. Data from SoSo Value shows that BlackRock’s ETF IBIT recorded a single-day net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a> of $299 million, constituting 64% of the total net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a>s this week.&nbsp;</p>
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   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2024/02/01/1c785dee82fc42112b4fa106824a3aef.webp.webp">
   <img decoding="async" width="732" height="533" src="https://cdn.thebittimes.com/images/2024/02/01/1c785dee82fc42112b4fa106824a3aef.webp" alt="Bitcoin ETF inflow"> 
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   Bitcoin ETF net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a> | Source: SoSo Value
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 <p>However, Grayscale’s Bitcoin Trust (GBTC) reported a substantial net outflow of $220 million in a contrasting development. Grayscale transferred 2,682 BTC, valued at approximately $114 million, to the address of Coinbase Prime Deposit. Additionally, the firm moved 5,281 BTC to a new address, speculated to be Grayscale’s updated custody address. The transactions could indicate a significant restructuring in Grayscale’s asset management strategy.</p>
 <p>This resurgence contributed to a spike in Bitcoin’s price, reaching its highest point in the past three weeks. Despite the net outflows from GBTC, the ETF issuers augmented their holdings by more than 4,200 Bitcoin, worth roughly $183 million. This shift in dynamics comes after a week of negative daily flows, which saw nearly 20,000 Bitcoins exiting the funds between Jan. 23 and Jan. 26.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etfs-surge-with-247m-inflow-as-btc-nears-44k-again-tbt78421.html">https://thebittimes.com/bitcoin-etfs-surge-with-247m-inflow-as-btc-nears-44k-again-tbt78421.html</a></p>

Bitcoin ETFs surge with $247m inflow as BTC nears $44k again

TheBitTimes

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