Fund inflows into Bitcoin ETF turn negative for the first time since its launch | CoinDesk JAPAN

Total inflows into 10 recently launched Bitcoin spot ETFs (exchange traded funds) have turned negative for the first time since trading began on January 11th. This is because capital inflows into the world’s largest asset management companies, such as BlackRock’s IBIT and Fidelity’s FBTC, have not kept up with the outflows occurring in Grayscale’s GBTC.

According to data collected by Bloomberg Intelligence analyst James Seyffart, 10 Bitcoin spot ETFs, including GBTC, sold $158 million on the 24th. yen (exchanged at 150 yen to the dollar), there was a net outflow (although the flow of funds on a daily basis is uneven). As of January 24, all physical ETFs (including GBTC) held a total of 642,458 BTC, according to figures compiled by CoinDesk from issuers’ websites. One week ago, it was 660,540 BTC, which is a decrease of more than 18,000 BTC.

The only physical ETF to experience an outflow this week was GBTC, whose total Bitcoin holdings fell from 592,098 BTC to 523,516 BTC.

Among the other nine physical ETFs, BlackRock’s IBIT and Fidelity’s FBTC are the top holdings. As of January 24, they each held over 40,000 BTC, compared to 20,000 to 25,000 BTC each a week ago. Both companies have nearly $2 billion in assets under management.

However, inflows into the two companies’ physical ETFs have slowed in recent days. For example, BlackRock only increased by 1,663 BTC on January 24th, the smallest daily increase since its launch. This is a decrease from 8705 BTC on January 17th.

Despite last week’s slowdown, net inflows into the 10 cash ETFs that began trading on January 11 remain substantial. Eric Balchunas, a Bloomberg Intelligence analyst like Mr. Seifert, calculates the total dollar inflow since launch at $824 million (about 123.6 billion yen). This amounts to an increase of approximately 17,000 to 20,000 BTC when converted into a net increase in Bitcoin.

｜Translation and editing: Rinan Hayashi
｜Image: Mediamodifier/Pixabay
｜Original text: Bitcoin ETF Flows Show Negative Trend For First Time Since Launch