Bitcoin Spot ETF Sees $62.77 Million Net Outflow Amid Shift to BlackRock’s IBIT

Recent data from SoSoValue highlights a significant net outflow in Bitcoin spot ETFs, amounting to $62.7725 million on February 21, 2023. Notably, the Grayscale Bitcoin Trust (GBTC) experienced a substantial single-day net outflow of $60.0798 million, which raises its total historical outflow to approximately $22.106 billion. In contrast, BlackRock’s ETF, IBIT, led the market with a robust net inflow of $21.641 million, contributing to an impressive total of $40.878 billion in net inflows since inception. Furthermore, VanEck’s HODL ETF reported a net inflow of $4.7112 million, bringing its overall net inflow to $0.871 billion. These figures underscore the dynamic nature of the cryptocurrency market, where investment flows can shift rapidly, indicating differing investor sentiments towards various financial products.