{"id":10135,"date":"2024-01-25T14:48:52","date_gmt":"2024-01-25T12:48:52","guid":{"rendered":"https:\/\/forklog.com\/en\/record-outflows-from-spot-bitcoin-etfs\/"},"modified":"2024-01-25T14:48:52","modified_gmt":"2024-01-25T12:48:52","slug":"record-outflows-from-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/record-outflows-from-spot-bitcoin-etfs\/","title":{"rendered":"Record Outflows from Spot Bitcoin ETFs"},"content":{"rendered":"<p>On January 24, outflows from the Grayscale Bitcoin Trust ETF (GBTC) reached $429.3 million, surpassing the combined inflows into other spot bitcoin ETFs ($204.7 million). These calculations were provided by Bloomberg analyst James Seyffart.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Day 9 \u2014 More <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a> outflows, -$429 million. Still waiting on BlackRock data. <a href=\"https:\/\/t.co\/S2mjoEvg5o\">pic.twitter.com\/S2mjoEvg5o<\/a><\/p>\n<p>\u2014 James Seyffart (@JSeyff) <a href=\"https:\/\/twitter.com\/JSeyff\/status\/1750369389457580407?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As a result, the net outflow from the sector over the past day amounted to $224.6 million. The provided data does not include figures from IShares Bitcoin Trust (IBIT).<\/p>\n<p>According to BitMEX Research, on January 24, investors directed $66.2 million into the mentioned product. Consequently, the net outflow for the sector was reduced to $158.4 million.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin Spot ETF Flow \u2014 Day 9 \u2014 UPDATE<\/p>\n<p>Data out for all providers<\/p>\n<p>$158m net outflow for day 9 <a href=\"https:\/\/t.co\/5UZmgoyK28\">pic.twitter.com\/5UZmgoyK28<\/a><\/p>\n<p>\u2014 BitMEX Research (@BitMEXResearch) <a href=\"https:\/\/twitter.com\/BitMEXResearch\/status\/1750408308370915589?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The negative trend continued for the third consecutive day. Over nine days, the figure remains positive at $824.4 million. This was largely due to <a href=\"https:\/\/forklog.com\/en\/news\/blackrocks-spot-bitcoin-etf-trades-at-a-25-premium\">the excitement on the first day of trading<\/a> ($655.2 million).<\/p>\n<p>At <a href=\"https:\/\/alpha.sosovalue.xyz\/?category=ETF\">sosovalue.xyz<\/a>, the net outflow figures for January 24 were nearly identical to BitMEX ($159.04 million).<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-886.webp\" alt=\"1-886\" class=\"wp-image-224694\"\/><figcaption class=\"wp-element-caption\">Data: sosovalue.xyz.<\/figcaption><\/figure>\n<p>According to K33 Research, issuers&#8217; addresses, excluding Grayscale, now hold 126,155 BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Jan 25 (cont)<\/p>\n<p>The new ETFs now hold 126,000 BTC. <\/p>\n<p>IBIT has become the 2nd largest BTC investment vehicle worldwide \u2014 still dwarfed by GBTC. All top 4 BTC ETFs are now U.S. domiciled.<\/p>\n<p>Impressed (surprised) by BITO maintaining its BUM \u2014 exposure still above any pre-2024 level. <a href=\"https:\/\/t.co\/FGAkcXmOue\">pic.twitter.com\/FGAkcXmOue<\/a><\/p>\n<p>\u2014 Vetle Lunde (@VetleLunde) <a href=\"https:\/\/twitter.com\/VetleLunde\/status\/1750438913485705387?ref_src=twsrc%5Etfw\">January 25, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>IBIT holds the second position with 45,670 BTC, following GBTC (509,955 BTC).<\/p>\n<p>Across all U.S.-registered spot products, including GBTC, the total bitcoin position has dropped to 636,100 BTC.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-699.webp\" alt=\"2-699\" class=\"wp-image-224695\"\/><figcaption class=\"wp-element-caption\">Data: K33 Research.<\/figcaption><\/figure>\n<p>At <a href=\"https:\/\/buybitcoinworldwide.com\/etf-holdings\/\">Bitcoin Treasuries<\/a>, the figure was slightly higher at 654,138 BTC.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/3-412.webp\" alt=\"3-412\" class=\"wp-image-224696\"\/><figcaption class=\"wp-element-caption\">Data: Bitcoin Treasuries.<\/figcaption><\/figure>\n<p>Combined with bitcoin <span data-descr=\"exchange-traded product\" class=\"old_tooltip\">ETP<\/span> from other countries, issuers hold 832,432 BTC, equivalent to 3.96% of the current issuance of the leading cryptocurrency.\u00a0<\/p>\n<p>In this regard, asset management companies have surpassed mining firms, sovereign funds, and both public and private companies.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/4-264.webp\" alt=\"4-264\" class=\"wp-image-224697\"\/><figcaption class=\"wp-element-caption\">Data:<a href=\"https:\/\/buybitcoinworldwide.com\/treasuries\/\"> Bitcoin Treasuries<\/a>.<\/figcaption><\/figure>\n<p>The recent downturn in the cryptocurrency market has led to a discount for IBIT and <span data-descr=\"Fidelity Wise Origin Bitcoin ETF\" class=\"old_tooltip\">FBTC<\/span> relative to <span data-descr=\"net asset value\" class=\"old_tooltip\">NAV<\/span> of 0.26% and 0.2% respectively.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/5-165.webp\" alt=\"5-165\" class=\"wp-image-224698\"\/><figcaption class=\"wp-element-caption\">Data: YCharts.<\/figcaption><\/figure>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/6-118.webp\" alt=\"6-118\" class=\"wp-image-224699\"\/><figcaption class=\"wp-element-caption\">Data: YCharts.<\/figcaption><\/figure>\n<p>CEO of Galaxy Digital, Mike Novogratz, has downplayed the impact of GBTC sales on the prospects of digital gold.<\/p>\n<p>Previously, several experts <a href=\"https:\/\/forklog.com\/en\/news\/experts-discuss-the-adverse-impact-of-etfs-on-bitcoins-price\">noted<\/a> the price dependency on the wave of position liquidations in the Grayscale exchange-traded fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On January 24, outflows from the Grayscale Bitcoin Trust ETF (GBTC) reached $429.3 million, surpassing the combined inflows into other spot bitcoin ETFs ($204.7 million). These calculations were provided by Bloomberg analyst James Seyffart. Day 9 \u2014 More $GBTC outflows, -$429 million. Still waiting on BlackRock data. pic.twitter.com\/S2mjoEvg5o \u2014 James Seyffart (@JSeyff) January 25, 2024 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":10134,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[865,569,1214,1167,1145,1138],"class_list":["post-10135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blackrock","tag-etf","tag-grayscale-bitcoin-trust","tag-k33","tag-market-analysis","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=10135"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/10135\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/10134"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=10135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=10135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=10135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}