CoinShares data, crypto- It reveals that there has been a significant outflow from investment products totaling approximately $424 million since Monday. This development draws attention to a significant change in investor preferences and strategies in the crypto market.
Spot Bitcoin ETFs Gain Momentum
The crypto arena’s attention appears to be turning to the newly launched US spot bitcoin ETFs. James Butterfill, Director of Research at CoinShares, reported $2 billion inflows into these ETFs. This trend is direct rather than derivative products. BitcoinIt highlights the growing interest in exposure to .
In particular, well-known funds such as ProShares Bitcoin Strategy ETF (BITO) and Grayscale’s GBTC have experienced significant outflows. This change clearly demonstrates the evolving dynamics in the crypto investment landscape.
Historical Transaction Volumes
BlackRock’s iShares Bitcoin Trust and ARK 21Shares Bitcoin ETF The recent approval by the SEC of 11 spot bitcoin ETFs, including leading names such as, has energized the market.
In this regard, these ETFs had an outstanding first day of trading, recording approximately $4.6 billion in transactions. This figure surpasses previous records and indicates a strong interest in these new investment instruments.
Although ETFs saw a decline in trading volume in the days following their explosive debut, Butterfill advises caution when interpreting these figures. He notes that such trends are typical in the market and do not reflect a decline in interest. More trading activity in the coming days is expected to provide a clearer picture of investors’ continued interest in these products.
Koinfinans.com As we reported, Bloomberg Intelligence analyst Eric Balchunas puts the $10 billion trading volume of these ETFs into perspective. Compared to the 2023 launch of the 500 ETFs, which collectively saw a trading volume of $450 million, the performance of the new spot bitcoin ETFs has been outstanding. This comparison highlights the significant traction these ETFs have quickly gained and points to a potential shift in investor preference towards more direct crypto asset exposure.