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Bitcoin ETF cooling down? Even on the 17th day, net inflows halted, facing the first net outflow in the near term.

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Bitcoin ETF cooling down? Even on the 17th day, net inflows halted, facing the first net outflow in the near term.

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Bitcoin ETF Momentum Slowing Down? First Net Outflow Seen Recently

According to data from BitMEX Research and Farside Investors, Bitcoin ETF experienced a net outflow of $79.9 million on January 25, followed by another outflow of $35.7 million, breaking the streak of 17 consecutive days of net inflows.

In contrast, the five-day average net inflow before February 16 was around 7,000 bitcoins, valued at approximately $454 million.

The outflows mainly came from Grayscale's GBTC, with about 3,877 bitcoins flowing out.

On the other hand, IBIT from BlackRock and FBTC from Fidelity continued to be the major inflows, accumulating nearly 3,000 bitcoins.

Grayscale Actively Transforming, Submits Application for Privacy Coin ETF

It was expected that Grayscale would transform all its closed-end funds into ETFs, but it was surprising that they first applied for a privacy coin ZEC ETF instead of a major competitive coin.

However, Nate Geraci, co-founder of The ETF Institute, cited documents indicating that he believes Grayscale expanding its ETF product lineup is a wise move.

Previously reported, both Binance and OKX chose to delist several privacy coins without specifying the exact reasons.

Binance delisted privacy coin Monero XMR, cross-chain bridge coin MULTI, and other well-known coins, marking the end of different eras in narrative