Grayscale Bitcoin ETF Sees Massive Outflows on Day 5
On Thursday, January 18, the Grayscale Bitcoin ETF (GBTC) experienced a significant net outflow of $579.6 million, bringing its total outflows to $2.2 billion. CoinShares’ Head of Research, James Butterfill, also reported that GBTC saw $1 billion in outflows on day 5.
Spot Bitcoin ETFs Experience Mixed Results
Overall, the fifth day of trading for all 12 Spot Bitcoin ETFs resulted in a net outflow of $131.6 million. However, there was a total net inflow of $131.7 million for the week. Despite this, GBTC alone recorded a massive net outflow of $1.66 billion for the week.
Rival ETFs Fare Differently
BlackRock’s iShares Bitcoin Trust (IBIT) had the highest net inflow of $735.80 million for the week, followed by Fidelity Wise’s FBTC with $645.60 million. The combined inflows from IBIT and FBTC offset over 80% of GBTC’s outflows.
On the fifth day of trading, IBIT and FBTC had net inflows of $145.60 million and $177.90 million respectively. ARK 21 Shares (ARKB) saw an inflow of $41.80 million, while Bitwise’s BITB had a net inflow of $20.10 million.
Other ETFs Show Mixed Results
Franklin Templeton’s EZBC, Hashdex’s DEFI, and WisdomTree’s BTCW all recorded zero net inflows. In contrast, Invesco Galaxy Bitcoin ETF (BTCO) had a substantial net inflow of $59 million.
Hot Take: Grayscale Bitcoin ETF Continues to Bleed
The fifth day of trading for Bitcoin ETFs saw a continuation of the outflows experienced since their debut. Grayscale’s GBTC stood out with massive net outflows, while its rivals had mixed results. It remains to be seen how these trends will evolve in the coming days and weeks.
By
By
By
By
By