Grayscale Bitcoin Trust (GBTC) sold 132,195 Bitcoin in January, reducing its holdings by 21%. The other nine ETFs grew, adding a total of 151,006 Bitcoin. The total assets of 10 spot Bitcoin ETFs, which increased by 3%, reached 656,421 BTC on January 31st.
According to data from BlackRock’s iShares Bitcoin Trust (IBIT), IBIT added 2,712 BTC on the last day of January. However, there is a discrepancy between Arkham Intelligence’s data and IBIT’s statements.
Despite the 10 spot Bitcoin ETFs adding 3% to their total assets in January, the Bitcoin price has fallen by 8% in the last 30 days.
The launch of spot Bitcoin ETFs in the US is seen as a “sell the news” event, while experts suggest that there could be more pressure in the futures market.
ARK Invest CEO Cathie Wood stated that the long-term perspective is still promising, while predicting that the short-term approval of spot Bitcoin ETFs would be expected to “sell the news.”
Also, in the comment section, you can freely share your comments and opinions about the topic. Additionally, don’t forget to follow us on Telegram, YouTube and Twitter for the latest news and updates.
Mithat Can Kartlaşmış 