Summary
Spot bitcoin ETFs in the US have experienced net daily outflows in the last four days, with a total of $420 million being withdrawn this week. However, VanEck crypto research head Matthew Sigel said the outflows are in line with the firm’s projections. Excluding the outflows from Grayscale Investments’ Bitcoin Trust ETF (GBTC), the combined net inflow into spot bitcoin ETFs since their launch totals over $5.5 billion. GBTC has seen almost $4.8 billion leave the fund since its conversion to an ETF. Despite GBTC’s outflows, experts believe the spot bitcoin ETFs have had a successful launch and expect inflows to depend on bitcoin’s performance.
Key Points
1. Spot bitcoin ETFs in the US have experienced net daily outflows in the last four days, but these flows are in line with projections.
2. Net inflows into spot bitcoin funds have shrunk to $745 million, with the ETFs collectively losing about $420 million in the first four days of the week.
3. Excluding the outflows from Grayscale Investments’ Bitcoin Trust ETF (GBTC), the combined spot bitcoin ETF net inflow figure since their launch is over $5.5 billion.