Grayscale Bitcoin Trust (GBTC) reduced its holdings by 21% by selling 132,195 Bitcoin in January. In contrast, the other nine ETFs grew by adding a total of 151,006 Bitcoin. The 10 spot Bitcoin ETFs, which saw a 3% increase in total assets, reached 656,421 BTC on January 31.
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 announcements.
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Despite the 10 spot Bitcoin ETFs adding 3% to their total assets in January, the Bitcoin price experienced an 8% decline over the last 30 days.
The launch of spot Bitcoin ETFs in the U.S. is being considered a 'sell the news' moment, while experts suggest that there may be more pressure in the futures market.
ARK Invest CEO Cathie Wood noted that the long-term outlook remains promising while predicting that the approval of the spot Bitcoin ETF is expected to be 'sold on the news.'$BTC #Write2Earn #Kriptocutrader #BitcoinDunyamiz #btcanaliz #BitcoinETFs