Net Inflows into Spot Bitcoin ETFs Hit $1.5B

On January 31, net inflows into spot Bitcoin ETFs reached $197 million, marking the fourth consecutive day of positive trend. Conversely, Grayscale’s GBTC saw a decrease of $187.7 million, reaching a new low since January 12.

Competitor funds saw an influx of $384 million, with Fidelity’s FBTC receiving the majority at $232 million. BlackRock’s IBIT, with assets under management of $2.79 billion, was closely approaching FBTC’s $2.54 billion.

The total assets under management for the sector have increased to $27.8 billion, although this is lower than the peak of $29.4 billion seen on January 12. In just 14 trading days since the approval of the product, investors have invested a total of $1.46 billion in these instruments.

Despite the exit from GBTC causing a supply overhang, Glassnode previously noted an increase in net capital inflows into spot Bitcoin ETFs.