Analysts from one of the largest American banks JPMorgan provided a report according to which investor interest in spot bitcoin exchange-traded funds is declining.
From the launch day, January 11th, to January 24th, the influx of funds into nine active Bitcoin funds amounted to $857 million. On January 24, Bitcoin ETFs received an influx of liquidity of $270 million.
But if we take into account the data from the largest Bitcoin fund GBTC, Grayscale Investment, the total outflow of funds has already amounted to almost $153 million.
One of the reasons for the decline in interest in spot Bitcoin ETFs at JPMorgan is considered to be a slight decrease in demand for the American crypto exchange Coinbase. However, JPMorgan analysts emphasized that despite the decline in demand, the launch of spot Bitcoin ETFs became the most successful in history among similar instruments in terms of trading performance and inflow of funds.
Earlier, JPMorgan CEO Jamie Dimon criticized Bitcoin and recommended that investors not have anything to do with the main cryptocurrency..