Net Inflow to Spot Bitcoin ETFs Nears $1.5 Billion

On January 31, the net inflow into spot Bitcoin ETFs reached $197 million, marking the fourth consecutive day of positive momentum.

According to SoSoValue, the total net inflow of Bitcoin spot ETF on January 31 was US$197 million, and it has been net inflow for four consecutive days. Grayscale GBTC had a single-day net outflow of US$187 million. The other 9 ETFs except Grayscale had a total net inflow of…

— Wu Blockchain (@WuBlockchain) February 1, 2024

Grayscale’s GBTC saw an outflow of $187.7 million, a new low since January 12.

Its competitors attracted $384 million, with Fidelity’s FBTC accounting for $232 million. In terms of assets under management ($2.54 billion), this ETF is approaching BlackRock’s IBIT ($2.79 billion).

Overall, the sector’s AUM increased to $27.8 billion. At its peak on January 12, the figure was $29.4 billion.

In the 14 trading days since the approval of the product, investors have poured $1.46 billion into such instruments.

Bitcoin ETF Flow — Day 14

All flow data out. Net +$198m inflow for all providers pic.twitter.com/MI0Vc6C61d

— BitMEX Research (@BitMEXResearch) February 1, 2024

Earlier, Glassnode noted an increase in net capital inflows into spot Bitcoin ETFs, despite the supply overhang caused by the exit from GBTC.

ARK Invest previously identified the approval of exchange-traded funds, alongside halving, institutional adoption, and reduced regulatory uncertainty, as drivers for the further appreciation of digital gold. They forecast the asset could rise to $120,000-$2,300,000 by 2030.