Despite “unceasing” outflows from Grayscale, the outlook for spot Bitcoin ETFs remains positive, with more than $1.1 billion in total inflows across the board, says Bloomberg ETF analyst James Seyffart.
Spot Bitcoin (BTC) exchange-traded funds (ETFs) have seen $76 million in net outflows on the seventh day of trading, according to new data from Bloomberg ETF analyst James Seyffart.
In a Jan. 23 post to X, Seyffart wrote that it had been a “bad day” overall for Bitcoin ETFs in the “Cointucky Derby,” noting that Grayscale still comprises the largest net outflows for the ETFs.
The price of Bitcoin has fallen significantly since the ten spot ETFs were approved on Jan. 10, falling from a high of $49,100 to as low as $39,500 on Jan. 23. Bitcoin is currently holding steady at just above the $40,000 mark, per TradingView data.
