Bitcoin ETF Flows Show Negative Trend For First Time
The group of recently launched spot bitcoin ETFs are experiencing combined negative flows for the first time since they opened for trade on January 11.
Bloomberg Intelligence analyst James Seyffart reported a net outflow of $158 million, with the total bitcoin held by all the spot ETFs at around 649,000, a decline of around 11,000 tokens.
The only fund to see actual negative flows was GBTC, which saw its total bitcoin in trust fall to 523,516.
BlackRock’s IBIT and Fidelity’s FBTC are leading the way, holding more than 40,000 bitcoin and closing in on $2 billion in assets under management.
(With inputs from Shikha Singh)
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