The number of Bitcoins under management in the new spot ETFs has exceeded 100,000, however these numbers don’t include the Grayscale GBTC converted fund. As a reminder, the new approved traded funds include BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) ) and WisdomTree (BTCW).
On January 22, spot Bitcoin ETF trading volume totaled $2.1 billion, with spot Bitcoin ETFs recording $564.5 million in inflows that day, according to Bloomberg ETF analysts.
Despite this, pressure on the price of BTC remains — the main reason analysts cite is the outflow from Grayscale’s converted GBTC fund. For January 22, the equivalent of uotflow amounted to about $640.5 million, with the total outflow to date is approximately $3.45 billion. According to CoinGlass, Grayscale’s GBTC assets fell more than 10% from approximately 619,220 BTC to 552,680 BTC.
At the time of writing, Bitcoin is going down, breaking the psychological barrier of $40,000 and is already trading at $38,900. Most crypto assets are also in the “red zone.”
