{"id":243605,"date":"2024-02-08T12:22:11","date_gmt":"2024-02-08T06:52:11","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=243605"},"modified":"2024-02-08T12:22:11","modified_gmt":"2024-02-08T06:52:11","slug":"spot-bitcoin-etf-flows-slow-to-record-low-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/spot-bitcoin-etf-flows-slow-to-record-low-crypto-news\/","title":{"rendered":"Spot Bitcoin ETF Flows Slow To Record Low &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<p>Feb. 6 hosted just 23% of the average daily spot Bitcoin ETF flows.<\/p>\n<div>\n<p>The initial wave of hype surrounding the newly launched cohort of spot Bitcoin ETFs, with the products\u2019 daily capital flows dropping to unprecedented lows this week.<\/p>\n<p>Data\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1755250139130650954\">compiled<\/a>\u00a0by James Seyffart, an ETF analyst at Bloomberg, shows just $106.5M worth of assets entering and exiting spot Bitcoin exchange-traded funds on Feb. 6. The 17th day of trade also hosted $33.7M worth of inflows to Bitcoin ETFs overall, with inflows offsetting $72.7M exiting Grayscale\u2019s Bitcoin Trust ETF.<\/p>\n<p>The ETFs from BlackRock and Fidelity continue to lead the sector by inflows, taking in $45.2M and $37.7M respectively. By contrast, the ETFs from Bitwise, Franklin Templeton, and Valkyrie posted capital flows of $0.<\/p>\n<figure><figcaption class=\"text-center text-xs\">Spot Bitcoin ETF flows. Source: Bloomberg.<\/figcaption><\/figure>\n<p>The previous day\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JSeyff\/status\/1754891511391547785\/photo\/1\">hosted<\/a>\u00a0a $68.1 inflow from $176M worth of flows in total. Only BlackRock, Fidelity, and WisdomTree posted positive flows on Feb. 5, taking in $137.3M, $38M, and just $700,000 respectively, while $107.9M exited Grayscale\u2019s fund.<\/p>\n<p>For context, spot Bitcoin ETFs have hosted $7.83B worth of flows over 17 days, equating to average daily flows of $460M and a net inflow of $1.68B. Average daily performance sits at an inflow of $98.8M despite the sector posting daily outflows between Jan. 19 and Jan. 26, according to\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theblock.co\/data\/crypto-markets\/bitcoin-etf\/spot-bitcoin-etf-total-net-flow\">data<\/a>\u00a0compiled from ETF.com.<\/p>\n<p>Bitcoin ETF volume is also slowing, with $692.1M worth of shares trading hands on Feb. 6, down from a daily average of $1.87B. The funds have hosted $31.8B worth of trades since launching.<\/p>\n<p>A recent drop in volatility across the cryptocurrency markets may be contributing to the slump in ETF activity, with BTC and other leading digital assets trading mid-range after partially recovering from a late-January pull-back.<\/p>\n<p>However, market movements have picked up over the past day, with BTC gaining 3.8% and ETH up 2.7% in 24 hours to post multi-week highs, according to CoinGecko.<\/p>\n<h2>Ether ETF delays<\/h2>\n<p>In other crypto ETF news, the U.S. Securities and Exchange Commission\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.sec.gov\/files\/rules\/sro\/cboebzx\/2024\/34-99479.pdf\">delayed<\/a>\u00a0the deadline for its verdict on the spot Ether ETF application from Galaxy Digital and Invesco on Feb. 6. The move followed similar delays from the SEC concerning pending spot Ether ETF filings from BlackRock, Grayscale, and Fidelity.<\/p>\n<p><!--$--><\/p>\n<div class=\"relative flex items-center gap-2 rounded-md bg-[#191919] p-2 my-4 lg:hidden\">\n<div class=\"relative group  flex w-max items-center gap-2  p-2 text-sm text-white mx-auto\"><strong class=\"whitespace-nowrap w-min sm:w-auto bg-gradient-to-r from-[#9FF9D2] to-[#DB9FF9] bg-clip-text text-transparent\">DeFi Alpha<\/strong><span class=\"whitespace-nowrap  w-min sm:w-auto border-l border-white pl-1 lg:hidden\">Premium Content<\/span><\/p>\n<div class=\"tooltip font-heading shadow-cta absolute hidden lg:visible left-6 z-10 -top-[80px] w-max max-w-xs translate-y-full flex-col rounded-lg bg-[#EEEEF4] p-3 text-left text-xs text-black group-hover:flex lg:left-auto lg:right-4\">Looking for Alpha? Become a premium member of The Defiant and join our DeFi Alpha community.<\/p>\n<ul class=\"list-inside list-disc\">\n<li>DeFi Daily | Weekdays<\/li>\n<li>DeFi Alpha Letter | Weekly<\/li>\n<li>Defiant Podcast Transcript | Weekly<\/li>\n<li>Inbox Dump | Saturday<\/li>\n<li>Weekly Recap | Sunday<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/thedefiant.io\/go-premium#pricing\" class=\"disabled:bg-cta-disabled-background disabled:text-cta-disabled-text rounded font-semibold border-cta-primary-border bg-cta-primary-background text-cta-primary-text hover:border-cta-primary-border-hover hover:bg-cta-primary-background-hover ml-auto block p-2 text-center text-sm !text-black !no-underline shadow-newButton\">Start for free<\/a><\/div>\n<p><!--\/$--><\/p>\n<p>Seyffart said the delay was \u201c100% expected,\u201d tipping that the SEC will delay other Ether ETF applications in the coming months. Seyffart emphasized that the final deadline for a verdict on VanEck\u2019s Ether ETF bid looms for May 23, suggesting the SEC may be lining the applications up for approval around that date.<\/p>\n<p>The SEC similarly delayed spot Bitcoin Ether applications until early January, before <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/thedefiant.io\/sec-approves-spot-bitcoin-etfs-in-historic-decision\">approving<\/a> 10 different funds on Jan. 10.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Feb. 6 hosted just 23% of the average daily spot Bitcoin ETF flows. The initial wave of hype surrounding the newly launched cohort of spot Bitcoin ETFs, with the products\u2019 daily capital flows dropping to unprecedented lows this week. Data\u00a0compiled\u00a0by James Seyffart, an ETF analyst at Bloomberg, shows just $106.5M worth of assets entering and [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":243606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-243605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/243605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=243605"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/243605\/revisions"}],"predecessor-version":[{"id":243608,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/243605\/revisions\/243608"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/243606"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=243605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=243605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=243605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}