Bitcoin spot ETF attracts huge funds, Grayscale GBTC abandonment ends

According to SoSoValue data, affected by the Grayscale GBTC sell-off, the Bitcoin spot ETF experienced a total net outflow of funds for four consecutive days from the 22nd to the 25th, with a total outflow of US$422 million. However, the Bitcoin spot ETF finally saw total net inflows on Friday, with an inflow of $14.81 million.

Daily inflow and outflow scale of Bitcoin spot ETF

Among them, the single-day net outflow of Grayscale GBTC was US$255 million. In addition to Grayscale, other Bitcoin spot ETFs had a total net inflow of $269 million. Among them, Fidelity's FBTC had the largest single-day net inflow, with a net inflow of approximately US$100 million, accounting for 37.17% of the total net inflow. Followed by BlackRock's IBIT, with a net inflow of US$87.13 million, accounting for 32.3% of the total net inflow.

Bitcoin spot ETF inflows and outflows on Friday

According to data from BitMEX Research, since the net outflow of US$640 million peaked on the 22nd , GBTC’s net outflows have declined for four consecutive days, suggesting that the GBTC sell-off may have slowed down. In addition, within 12 trading days after GBTC was converted into a spot ETF and listed, the cumulative net outflow has reached US$5.04 billion.

Daily inflow and outflow scale of each Bitcoin spot ETF

Currently, the historical cumulative net inflow of Bitcoin spot ETF is US$756 million, Grayscale GBTC still holds net assets of $20.058 billion, and the total net asset value of Bitcoin spot ETFs is $26.74 billion.

ETF custody address is expected to transfer US$525 million on Monday

On-chain analyst Yu Jin said that based on the inflow/outflow of funds on Friday, it is expected that when the U.S. stock market opens next Monday, the major Bitcoin spot ETFs A total of approximately 12,504 BTC ($525 million) will be transferred to escrow addresses.

Among them, the Grayscale GBTC custody address is expected to outflow approximately 6,077 BTC (capital outflow of 255 million US dollars on 1/26), and the remaining nine ETF custody addresses will inflow approximately 6,427 BTC (capital inflow of 2.70 on 1/26). billion US dollars), the overall net inflow was approximately 350 BTC (US$14.8 million).

The expected on-chain transfer volume of each ETF next Monday

Ember pointed out that after four consecutive days of net outflows, Bitcoin spot ETF funds once again experienced a net outflow. Inflows and outflows of Grayscale funds are also gradually declining, and the selling peak may have passed. The current ten BTC spot ETFs hold a total of approximately 637,309 BTC.

Bloomberg analyst James Seyffart has previously predicted that GBTC’s final outflow rate will reach between 20% and 35%, but at least 1/3 of these outflows will reinvest in Bitcoin , after including GBTC outflows, the net inflow of Bitcoin spot ETF funds this year will still reach 10 billion US dollars.

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