Since their launch on January 11th, nine active Bitcoin funds have attracted a total of $857 million in funds up until January 24th. However, on January 24th, Bitcoin ETFs experienced a decrease in liquidity with only $270 million coming in.
When considering data from the largest Bitcoin fund, GBTC by Grayscale Investment, it becomes evident that the total outflow of funds has reached nearly $153 million.
A contributing factor to the decreased interest in spot Bitcoin ETFs at JPMorgan is believed to be a slight decline in demand for the American cryptocurrency exchange, Coinbase. Nonetheless, JPMorgan analysts were quick to point out that despite the decrease in demand, the launch of spot Bitcoin ETFs has been the most successful in history in terms of trading performance and influx of funds.
Earlier, JPMorgan CEO, Jamie Dimon, criticized Bitcoin and advised investors to distance themselves from the primary cryptocurrency.