Bitcoin spot ETFs: First interim balance shows high inflows and Grayscale sales. How does this affect the market?

Bitcoin spot ETFs: First interim balance shows high inflows and Grayscale sales. How does this affect the market?

According to a report by www.deraktionaer.de, the start of trading in the first Bitcoin spot ETFs on January 11th was met with strong reactions in the market. While the Grayscale Bitcoin Trust (GBTC) saw heavy outflows after converting to an ETF, the nine newly approved spot ETFs raised 800 percent more Bitcoin over the same period.

The massive outflow from the Grayscale fund led to a significant drop in Bitcoin holdings, while the new ETFs collectively collected 151,006 Bitcoin. However, pressures on the Grayscale ETF may remain as sales have slowed but not stopped.

Nevertheless, the outflows from Grayscale sales were able to be absorbed by the other spot ETFs, resulting in an overall positive result. The Bitcoin price returned to the level before ETF approval. However, investors continued to show interest in the market despite profit-taking.

The possibility of a new Bitcoin bull market is fueled by the combination of the expected increase in demand from ETF approval in the US and the impending supply tightening from the next halving in April.

In addition, courageous investors could benefit from the renewed upward trend in the Bitcoin chart and the long-term potential development through the groundbreaking ETF approval in the USA. The inflows and outflows of Bitcoin spot ETFs have shown that the market reacts positively to ETFs and investors continue to be interested in digital currencies.