Inflows into the 10 spot Bitcoin exchange-traded funds (ETFs) fell to a two-week low on Wednesday, with the group attracting only about 500 net bitcoins (BTC), about $25.5 million, as of the Show data collected on issuers' websites.
That's the lowest level since Feb. 6, when funds saw about $100 million in outflows, and a significant decline from inflows seen since then. For example, in the five days ending February 16, net inflows averaged about 7,000 bitcoins per day, worth about $350 million.
Wednesday's transactions were dominated by heavy outflows from Grayscale's Bitcoin Trust (GBTC), which saw some 2,652 Bitcoin removed from its fund. Meanwhile, BlackRock's iShares Bitcoin Fund (IBIT) and Fidelity's Wise Origin (FBTC), which remain the dominant issuers, added nearly 3,000 Bitcoins combined.
Five of the funds, including Bitwise's Bitcoin ETF (BITB) and VanEck's Bitcoin Trust (HODL), saw no net movement.
Inflows have been on a roller coaster ride in recent weeks, ranging from outflows of up to 6,900 Bitcoins on January 24th to days like February 13th when inflows reached 12,400 Bitcoins.
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