The U.S. Bitcoin ETF landscape encountered a significant decline, with a total outflow of $488.38 million recorded recently. This downturn was driven primarily by Grayscale”s Bitcoin Trust (GBTC), which experienced the largest withdrawal among its peers, totaling $160.84 million. With this outflow, GBTC”s net assets have dropped to $14.44 billion, marking a challenging period for the fund.
In addition to Grayscale, major players like BlackRock and Fidelity also reported notable losses. BlackRock”s iShares Bitcoin Trust (IBIT) saw an outflow of $56.87 million, which translates to a reduction of 635.17 BTC. Despite this, IBIT retains the highest net asset value in the market, standing at $70.18 billion. However, its market price has decreased by 6.42%, settling at $50.76, with a trading volume of 76.48 million shares.
Fidelity”s Bitcoin ETF (FBTC) faced an even steeper decline, with $152.13 million withdrawn, equating to a loss of 1.70K BTC. The current net assets for FBTC are approximately $17.70 billion, while its market price fell by 6.31%, now priced at $77.98.
Following the trend of significant outflows, Bitwise”s BITB recorded a net outflow of $40.38 million, reducing its holdings by 450.96 BTC. With total net assets valued at $3.52 billion, BITB”s market price has also experienced a 6.30% decline, now at $48.63.
Furthermore, ARK Invest and 21Shares” ARKB ETF witnessed a $46.37 million outflow, leading to the removal of 517.89 BTC from the fund. ARKB currently holds $3.34 billion in net assets, with a market price of $29.73 following a 6.24% decrease. The trading volume for ARKB reached 4.68 million shares during this period.
Despite the challenges faced by many ETFs, several funds have maintained stability without significant inflows or outflows. Notable examples include VanEck”s HODL, Invesco”s BTCO, WisdomTree”s BTCW, and Hashdex”s DEFI, all of which have shown no movement in their net asset values or trading volumes. Meanwhile, Valkyrie”s BRRR ETF reported a more modest outflow of $3.79 million, with total net assets at $540.94 million and a market price of $29.87, reflecting a 6.23% decline.
Franklin”s EZBC also encountered setbacks, as it recorded a net outflow of $10.36 million.
As January 20 draws near, the overall net assets of the U.S. Bitcoin ETF market total $116.73 billion, representing roughly 6.51% of Bitcoin”s market capitalization. Despite the recent outflows, the cumulative net inflow for Bitcoin ETFs remains positive at $57.34 billion, and the total value traded across these funds reached $5.27 billion.
