Bitcoin ETFs Experience Significant Outflows, Losing $103.57 Million in a Single Day
According to recent data, Bitcoin Exchange-Traded Funds (ETFs) have recorded a substantial decline in investments, with a net outflow of $103.57 million on January 23. This marks the fifth consecutive trading day of redemptions, resulting in a total of $1.72 billion being pulled out of Bitcoin ETFs since January 16.
The sell-off has been led by BlackRock’s IBIT, which saw $101.62 million in outflows, followed by Fidelity’s FBTC with $1.95 million in redemptions. The cumulative total net inflow has dropped to $56.49 billion from $57.82 billion over the same period. Most Bitcoin ETFs recorded zero flows on January 23, with only IBIT and FBTC posting activity.
$708 Million Exodus from Bitcoin ETFs
The significant outflow began on January 16 with $394.68 million in Bitcoin ETF outflows, reversing a four-day inflow streak that brought $1.81 billion into funds. The markets were closed for the weekend before resuming redemptions on January 20 with $483.38 million in withdrawals. January 21 posted the largest single-day exodus at $708.71 million, followed by $32.11 million on January 22.
Total value traded declined to $3.36 billion on January 23 from $5.51 billion on January 21. The sustained selling pressure has erased gains from mid-January when Bitcoin ETFs attracted strong institutional buying. Grayscale’s GBTC and mini BTC trust, along with Bitwise’s BITB, Ark & 21Shares’ ARKB, VanEck’s HODL, Invesco’s BTCO, Valkyrie’s BRRR, Franklin’s EZBC, WisdomTree’s BTCW, and Hashdex’s DEFI all recorded zero flows on January 23.
BlackRock’s IBIT holds $62.90 billion in cumulative net inflows, while Fidelity’s FBTC has accumulated $11.46 billion in total inflows. Grayscale’s GBTC maintains -$25.58 billion in net outflows since converting from a trust structure.
Ethereum Posts Fourth Consecutive Outflow Session
Ethereum spot ETFs recorded $41.74 million in net outflows on January 23, extending the redemption streak to four consecutive trading days. BlackRock’s ETHA led withdrawals with $44.49 million, while Grayscale’s ETHE posted $10.80 million in outflows.
Grayscale’s mini ETH trust attracted $9.16 million in inflows, and Fidelity’s FETH saw $4.40 million in positive flows. Bitwise’s ETHW, VanEck’s ETHV, Franklin’s EZET, 21Shares’ TETH, and Invesco’s QETH all recorded zero activity. The four-day Ethereum outflow period from January 20 through January 23 totals approximately $611 million.
Total net assets fell to $17.70 billion from $20.42 billion on January 16. Cumulative total net inflow dropped to $12.30 billion from $12.91 billion. Total value traded reached $1.31 billion on January 23, down from $2.20 billion on January 21. For more information, visit the original source: https://crypto.news/bitcoin-etfs-bleed-outflows-hit-103-5-million/
