- Investor interest and inflows into new Bitcoin spot ETFs have slowed down this week based on recent data.
- Wednesday marked the lowest single day of inflows for the funds since trading began on January 11.
- The funds saw net outflows of $153 million on Wednesday, the third straight day of net outflows, indicating cooling investor demand.
The much-anticipated Bitcoin spot ETFs are starting to see slowing investor interest based on recent data.
Net Outflows Over Past 3 Days
Wednesday marked the lowest single-day of investor gross inflows for the group of new funds since trading began on January 11. The nine funds received about $270 million in inflows on Wednesday, according to a report from JPMorgan Chase & Co.
Once outflows from Grayscale’s spot Bitcoin ETF are accounted for, overall net outflows were about $153 million on Wednesday. This is the third consecutive day of net outflows for the 10 funds. Outflows have come exclusively from GBTC, which converted from a trust after the SEC approved the investment vehicle.
Previous Performance
Over the first 9 days of trading, the new funds saw $857 million in net inflows, which JPMorgan called “disappointing” given the hype around a spot Bitcoin ETF. The flow performance has cooled this week based on the recent outflows.
