- On January 22nd, the net outflow of funds from spot bitcoin ETFs amounted to $77.35M.
- $640.5M was withdrawn from the Grayscale Investments crypto fund.
- Nine spot bitcoin ETFs showed a total inflow of $563M.
On January 22nd, 2024, the net outflow of funds from spot bitcoin ETFs amounted to $77.35M, according to SoSo Value data.
The leader in the volume of assets withdrawn is the cryptocurrency fund of Grayscale Investments company. The spot bitcoin ETF with the GBTC ticker lost $640.5M.
According to analysts, the withdrawal of funds from the Grayscale crypto fund is largely related to the sale of assets by the collapsed FTX exchange. Senior Bloomberg Intelligence analyst Eric Balchunas said the product lost $2.8B since launch. According to experts, over $900M of this amount comes from FTX sales.
At the same time, other investment crypto funds on January 22nd, 2024 demonstrated an inflow of funds for a total amount of $563M. The inflow leader was the BlackRock ETF with $260M.
The Fidelity Investments investment product received an inflow of $159M in a day, Ark Invest and 21Shares crypto funds took third place with $65M. Other bitcoin ETFs recorded inflows ranging from $426,000 to $41.5M.
Interestingly, it is now possible to view the balance and transaction history in four spot exchange-traded funds. Analysts from the Arkham Intelligence analytics platform identified the addresses of ETFs from BlackRock, Fidelity Investments, Bitwise, and Franklin Templeton.
It is worth recalling that we wrote about an expert predicting a $25B outflow from GBTC.
