Spot Bitcoin ETFs Face Record Low Inflows, Net Outflows Surge

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.

JUST IN: Spot #Bitcoin ETFs saw a record low of $270 million in single-day inflows yesterday

Are traders already bored of the ETFs?
— BlockNews.com (@blocknewsdotcom) January 25, 2024

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.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.