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Bitcoin ETF Day 12: GBTC net outflows ease, BlackRock trading volume approaches GBTC

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Bitcoin ETF Day 12: GBTC net outflows ease, BlackRock trading volume approaches GBTC

The Bitcoin spot ETF has entered its 12th trading day since its listing. Currently, the net outflow of GBTC continues to slow down, while the trading volume of the BlackRock ETF is steadily approaching GBTC.

Bitcoin Spot ETF Day 12 Data

Initially, the trading volume of the BlackRock IBIT exceeded GBTC by $115 million to $112 million within the first hour of trading. Bloomberg ETF analyst James Seyffart once thought that GBTC was about to be overtaken, but in the end, GBTC's trading volume remained higher than IBIT.

Here is the data for day 12:

  • Total trading volume on day 12: $1.5 billion

  • Grayscale GBTC trading volume: $570 million

  • BlackRock IBIT trading volume: $460 million

  • Fidelity FBTC trading volume: $315 million

  • Bitcoin Spot ETF assets under management reach $26.7 billion

GBTC Net Outflow Approaching $200 Million, Continues to Slow Down

James Seyffart and BitMEX Research both pointed out that there was a net outflow of approximately $191 million, equivalent to 4,400 BTC, from GBTC, and the outflow continues to slow down.

According to on-chain tracking firm Lookonchain, Grayscale Grayscale once again transferred 6,534 BTC worth approximately $274.9 million to Coinbase Prime.

So far, Grayscale has transferred a total of 119,663 BTC worth $4.91 billion and still holds 495,290 BTC.

Farside Investors data shows the net inflows for various ETFs as follows:

  • FBTC: $208 million

  • BITB: $20 million

  • ARKB: $17 million

According to Ark Invest Daily, Ark Invest purchased an additional 58,468 shares of ARK 21 Shares on January 29, worth approximately $2.5258 million.

Issuer Price War Intensifies

J.P. Morgan Invesco and Galaxy Asset Management's Bitcoin Spot ETF have reduced fees from 0.39% to 0.25%.

Currently, the fees for each issuer are as follows:

Bitcoin Spot ETF Fee Table