Ten BTC spot ETFs are expected to see a transfer of about 8,599 BTC

Bitget2024/02/05 10:20

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On-chain analyst Yu Jing tweeted that based on the inflow/outflow of BTC spot ETF funds on February 2, it is expected that about 8,599 BTC (approximately $369.28 million) will be transferred from various ETF custodial addresses after the U.S. stock market opens tonight (2/5):

• The Grayscale (GBTC) custodial address is expected to outflow approximately 3,368 BTC (corresponding to a fund outflow of $144.61 million on 2/2);

• The remaining nine ETF custodial addresses are expected to inflow approximately 5,231 BTC (corresponding to a fund inflow of $224.67 million on 2/2), with BlackRock's IBIT receiving the most at 2,465 BTC ($105.83 million);

• Overall net inflows for the ten ETFs are estimated at around 1,863 BTC ($80.06 million), marking six consecutive days of net capital inflows.

Currently, these ten Bitcoin spot ETF custody addresses hold a total position of approximately 657,110 BTC (about $28.21 billion).

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Ten BTC spot ETFs are expected to see a transfer of about 8,599 BTC

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