Spot Bitcoin exchange traded funds in the United States saw a slowdown on January 22 as BTC returned to around $102,000.
According to facts from SoSoValue, inflows into spot Bitcoin ETFs fell 69% from the previous day, reaching $248.65 million on Wednesday. All of the inflows recorded on the day came from BlackRock’s IBIT, which raised $344.28 million from investors.
Grayscale’s GBTC recorded outflows of $47.93 million, while Bitwise’s BITB and ARK 21Shares’ ARKB added to the negative momentum, with investors pulling $34.67 million and $13.02 million from the funds, respectively.
The remaining BTC ETFs were at a standstill that day. Despite the decline in inflows, spot Bitcoin funds extended their inflows to four consecutive days, collecting more than $3.5 billion during this period.
Total trading volume for these investment products that day was $2.97 billion, while cumulative total net inflows since launch day amounted to $39.23 billion.
Notably, the slowdown in inflows into investment products was accompanied by a 3% drop in Bitcoin (BTC) over the past 24 hours, exchanging hands for nearly $102,000 at the time of writing.
Kadan Stadelmann, CTO of Komodo Platform, previously told crypto.news that Trump’s first days as president could become a “sell the news” event. He noted that initial optimism in crypto markets following Donald Trump’s election could fade, as expected policy changes were likely already priced in before he took office.
Meanwhile, Mark Uyeda, the newly appointed interim chairman of the SEC, took swift action after his inauguration by launching a crypto task force on Tuesday. The task force led by Commissioner Hester Peirce aims to establish a comprehensive and clear regulatory framework for crypto assets.
Commenting on the impact of this development, Matt Mena, Crypto Research Strategist at 21Shares, told crypto.news that the newly created crypto task force, led by Commissioner Hester Peirce, could pave the way for the adoption of a wider variety of crypto ETFs, including those linked to SOL, XRP, LTC, DOT and DOGE.
Mena noted that the task force aims to “promote structured disclosure frameworks, practical registration pathways and improved regulatory and industry engagement,” which could streamline the approval process for these crypto ETFs while creating a clearer path for broader adoption of cryptocurrency.
