CoinShares specialists presented a new report, where they talked about the situation that is currently observed in the ETF segment. It was noted that in total, industry Bitcoin funds recorded an outflow of investment funds amounting to $435 million. Average trading volumes also decreased from $18 billion to $11.8 billion.
The Grayscale Bitcoin Trust made the greatest contribution to the development of this dynamic.. In the last 7 days alone, this fund has lost over $454 million. However, CoinShares noted that the dynamics of the outflow of funds from GBTC is gradually slowing down. On the other hand, other ETFs are not attracting money from investors as actively as they were before.. For example, over the past week, funds received no more than $126 million from bidders.
The industry ETF, issued by BlackRock, especially stood out from the rest.. He systematically attracted money every day and recorded a streak of 71 days. However, on April 24, this trend was interrupted. Moreover, for the last 3 trading days from April 24 to April 26 inclusive, this fund was not able to attract a single dollar from users.
The peak inflow of investment funds into spot ETFs occurred on March 12, when they attracted just over $1 billion. But after this, the influx of capital began to systematically slow down. But if we assess the situation globally, the positive trend remains.
The fact is that American Bitcoin ETFs have received almost $12 billion from investors since January of this year.
Currently, the flagship crypto asset is trading just above $62,260, continuing to move in a downward trend. Over the past 24 hours, trading volume increased by 31.2%, reaching $23.3 billion. Meanwhile, the market capitalization of Bitcoin is estimated at $1.23 trillion. However, many industry experts note that the current dynamics are purely temporary.