Feb 6, 2024

According to a report from asset manager CoinShares, bitcoin-focused investment vehicles received more than $700 million in fresh money last week as inflows to new spot bitcoin (BTC) exchange-traded funds offset the abating outflows from Grayscale's flagship GBTC fund.

Video transcript

The chart of the day is presented by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let's take a look at the chart of the day. Bitcoin focused investment vehicles received more than $700 million in fresh money last week. That's according to new data from coin shares. This comes as inflows to new spot. Bitcoin ETF S offset the abating outflows from Greyscale flagship fund known as G BT C. Blackrock managed I BT C and Fidelity's F BT C are the two clear leaders among the newly issued spot. Bitcoin ETF S those notched 884 million dollars and $674 million in weekly inflows respectively. Both figures were slightly higher than the week before in dollar terms. Meanwhile, investors withdrew about $927 million from G BT C. A notable drop from the previous week's $2.2 billion bleed coin shares. Head of research said in the report that the data quote highlights a significant reduction in momentum of these outflows in recent weeks. End quote. That's a wrap for today's chart of the day. I'm Jen Sani we'll see you next time to unpack more of the data behind top news stories.

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