Despite the $7 billion GBTC outflow, Bitcoin ETFs have recorded net gains of $4.9 billion since January.

quick take

BitMEX’s data analysis presents a clear picture of recent Bitcoin ETF inflows and outflows. The Bitcoin ETF experienced significant inflows of $331 million on February 16, contributing to weekly net inflows of $2.273 billion. These strong inflows represent a continuing trend since January 11, with total net inflows reaching a significant $4.926 billion, according to BitMEX data.

BlackRock IBIT was a key player driving these inflows, contributing $191 million on February 16, bringing total inflows to $5.4 billion. Conversely, GBTC experienced an outflow of $150 million, bringing total outflows to $7 billion, according to BitMEX data.

In Bitcoin terms, BitMEX reported net inflows of 6,376 BTC on February 16, 44,865 BTC in the week from February 12 to February 16, and a total of 102,888 BTC since January 11, 2024.

Meanwhile, according to Bytetree, the global ETP holds approximately 947,000 BTC. Over the past seven days, ByteTree data shows that 47,500 BTC were added.

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