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Interest in Bitcoin ETFs is Declining


Bitcoin

JPMorgan Chase & Co. Interest in spot Bitcoin ETFs appears to be waning, according to a report published by .

Capital inflows into 9 spot bitcoin ETFs on Wednesday fell to the lowest level since the funds began trading on January 11. Approximately 270 million dollars were inflowed into nine new funds.

Taking into account outflows from Grayscale Investment's spot Bitcoin ETF, total net outflows on Wednesday were approximately $153 million. Outflows came only from GBTC, which converted from a trust after the U.S. Securities and Exchange Commission approved the investment vehicle.

JPMorgan called the group's streaming performance "disappointing" and cited it as the reason behind downgrading cryptocurrency exchange Coinbase Global Inc earlier this week.

Since January 11, there have been $5.2 billion inflows into nine new ETFs, offsetting $4.4 billion in outflows from GBTC. Total net inflow was 857 million dollars.

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