- According to SoSo Value, on February 21, net outflow was recorded in the sector of spot bitcoin-ETF.
- This is the first time such an event has occurred since January 25.
On February 21, 2024, the spot bitcoin-ETF sector recorded a net outflow of $88.12 million, according to SoSo Value. This is the first trading day since January 25, 2024 to end in the red zone.
The change in trend is due to increased outflows from Grayscale Investments’ GBTC fund. Note that some positions have not yet updated their trading volume data.
However, a slight decline in activity can be traced for the rest of the funds:
As can be seen, with the exception of the five largest ETFs, the capitalization of most products remains relatively small.
As a reminder, Ophelia Snyder, head of 21Shares, said that competition in the sector is growing. She predicted consolidation of the segment to the three or five largest funds.
We also covered a new report from the European Central Bank. In it, the regulator said that the effect of approving spot bitcoin-ETFs will be felt only in the short term.
