TLDR
- The U.S. Bitcoin ETFs market faced a daily net outflow of $483.38 million.
- BlackRock’s IBIT and Fidelity’s FBTC saw notable outflows, losing $56.87 million and $152.13 million, respectively.
- Grayscale’s GBTC had the highest outflow, with $160.84 million withdrawn and its net assets dropping to $14.44 billion.
- ETFs such as VanEck’s HODL, Invesco’s BTCO, WisdomTree’s BTCW, and Hashdex’s DEFI recorded stable trends with no changes.
- Valkyrie’s BRRR ETF posted a $3.79 million outflow, while Franklin’s EZBC experienced a $10.36 million net outflow.
As of January 20, the U.S. Bitcoin ETFs market experienced notable outflows, with a daily total net outflow of $483.38 million. Despite these declines, the cumulative total net inflow for Bitcoin ETFs remained positive at $57.34 billion. The total value traded reached $5.27 billion, while the overall net assets for the ETFs totaled $116.73 billion, 6.51% of Bitcoin market cap.
BlackRock’s IBIT and Fidelity’s FBTC Record Outflows
BlackRock’s iShares Bitcoin Trust (IBIT), the largest Bitcoin ETF, saw a daily net outflow of $56.87 million, equivalent to a reduction of 635.17 BTC. Despite this, it still holds the highest net assets at $70.18 billion. The fund’s market price dropped 6.42% to $50.76, with a trading volume of 76.48 million shares.
Fidelity’s FBTC experienced one of the largest outflows, with $152.13 million withdrawn and a loss of 1.70K BTC. The fund’s total net assets stand at $17.70 billion, and its market price fell 6.31% to $77.98.
Grayscale’s GBTC Bitcoin ETF Takes the Lead In Outflow
Grayscale’s GBTC suffered a notable outflow of $160.84 million, with 1.80K BTC redeemed. The fund’s cumulative net inflow is now negative at -$25.57 billion, despite maintaining net assets of $14.44 billion. The market price of GBTC fell 6.29% to $69.89.
Bitwise’s BITB recorded a net outflow of $40.38 million, reducing its holdings by 450.96 BTC. The fund’s total net assets are valued at $3.52 billion, with a market price of $48.63, representing a 6.30% decline.
ARK Invest and 21Shares’ ARKB ETF saw a daily outflow of $46.37 million, with 517.89 BTC removed from the fund. It maintains $3.34 billion in net assets, with a market price of $29.73 after a 6.24% decrease. ARKB’s trading volume for the day reached 4.68 million shares.
HODL, BTCO, BTCW, and DEFI Bitcoin ETFs Hold Stable
Meanwhile, some Bitcoin ETFs such as VanEck’s HODL, Invesco’s BTCO, WisdomTree’s BTCW, and Hashdex’s DEFI showed no movement in daily net inflows or outflows. These funds showed stable trends, with no inflows or outflows recorded during the period.
HODL, BTCO, BTCW, and DEFI maintained their respective positions with no significant changes in net assets, trading volumes, or market prices. Valkyrie’s BRRR ETF posted a net outflow of $3.79 million, while its total net assets amounted to $540.94 million.
The Bitcoin ETF recorded trading volume of 693.28K shares, closing at $29.87, a 6.23% decline. Franklin’s EZBC also faced declines. EZBC recorded a net outflow of $10.36 million.
The post Bitcoin ETFs Log Off $488.38M as GBTC by Grayscale Takes the Lead appeared first on Blockonomi.
Source: https://blockonomi.com/bitcoin-etfs-log-off-488-38m-as-gbtc-by-grayscale-takes-the-lead/