Bitcoin ETF

Bitcoin

James

<p><span style="font-weight: 400;">Crypto-focused investment funds saw outflows of $500 million last week as signs emerged that outflows from Grayscale’s spot Bitcoin ETF (exchange-traded fund) are easing, CoinShares <a href="https://blog.coinshares.com/volume-167-digital-asset-fund-flows-weekly-report-250dd83e8c2f" rel="noopener noreferrer nofollow">said</a>.</span></p>
<p><span style="font-weight: 400;">“The outflows in Grayscale aren’t pretty but it looks like they are beginning to subside,” said head of research James Butterfill in an X post on Jan. 28.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">The outflows in Grayscale aren't pretty but it looks like they are beginning to subside. <a href="https://t.co/IZXHZWbiKG" rel="noopener noreferrer nofollow">pic.twitter.com/IZXHZWbiKG</a></p>
 <p>— James Butterfill (@jbutterfill) <a href="https://twitter.com/jbutterfill/status/1751679780955508898?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 28, 2024</a></p>
</blockquote>
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<h2 id="grayscale-s-converted-bitcoin-etf-loses-2-2-billion">Grayscale’s Converted Bitcoin ETF Loses $2.2 Billion</h2>
<p>Grayscale lost $2.2 billion in outflows last week but the daily total reduced as the week progressed, Butterfill said. <span style="font-weight: 400;">Grayscale’s newly-converted Bitcoin fund (GBTC) has seen outflows that surpassed $5 billion since Jan. 11, he added.</span></p>
<h2 id="span-style-font-weight-400-newly-launched-funds-helped-offset-grayscale-losses-span"><span style="font-weight: 400;">Newly-Launched Funds Helped Offset Grayscale Losses</span></h2>
<p><span style="font-weight: 400;">GBTC’s substantial outflows last week overshadowed the $1.8 billion in net inflows recorded by newly-opened spot </span><a href="https://insidebitcoins.com/news/bitcoin-etf-ads-might-appear-on-google-from-today-after-policy-update" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin ETFs</span></a><span style="font-weight: 400;"> in the U.S.</span></p>
<p><span style="font-weight: 400;">Still, the amount of funds flowing into these new spot bitcoin ETFs has also slowed. Data compiled by CoinDesk shows that the newly-launched funds </span><a href="https://insidebitcoins.com/news/bitcoin-etf-flows-dip-into-the-red-for-the-first-time-since-launch" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">added</span></a><span style="font-weight: 400;"> around 46,000 BTC last week, down from 60,000 BTC the funds purchased the week before.</span></p>
<p><a href="https://insidebitcoins.com/news/hedge-fund-manager-anthony-scaramucci-predicts-bitcoin-will-soar-to-170000-after-the-halving" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> funds accounted for the majority of last week’s activity, recording $479 million in outflows, with s</span><span style="font-weight: 400;">hort-bitcoin funds seeing inflows of $10.6 million, CoinShares said.</span></p>
<p><img decoding="async" src="https://cloudfront-us-east-2.images.arcpublishing.com/reuters/VI4FO7ASPBMK5PAX3L7V6RAZPI.jpg" alt="Crypto, insurance-linked and trend hedge funds most popular - Preqin | Reuters"></p>
<p><span style="font-weight: 400;">Altcoins also saw outflows last week. Ethereum, Polkadot and Chainlink led the way with $39 million, $0.7 million and $0.6 million in outflows respectively. </span></p>
<p><span style="font-weight: 400;">Blockchain equities saw inflows totaling $17 million during the same period, added the report.</span></p>
<p>By geography, <span style="font-weight: 400;">outflows were focused on the US, Switzerland and Germany, with outflows of $409m, $60m and $32 million, respectively.</span></p>
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Crypto Fund Outflows Hit $500 Million Last Week, But Grayscale Bitcoin ETF Bleed Slows

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