In January 2024, the Assets Under Management (AUM) for Bitcoin spot ETFs slightly declined by 5.32%, falling to $47.3 billion. This decrease was largely due to outflows from Grayscale and a dip in Bitcoin's price.

Key Findings

• In January, even with the landmark approval of the initial Bitcoin spot ETFs, the sector's total assets under management (AUM) saw a period of relative stability, registering a slight increase of 1.53% to $50.7 billion.
• Average daily aggregate trading volumes for digital asset investment products experienced a significant upward trend in January 2024 rising 224% to $2.19 billion.
• Grayscale's outflows have begun to decelerate. Since its conversion to a spot Bitcoin ETF, GBTC has registered a total of $5.23 billion in outflows.
• Despite experiencing significant outflows, GBTC remained a major player in the U.S. ETF sector, with an AUM of $20.4 billion. BlackRock’s iShares IBIT and Fidelity FBTC followed closely, both exceeding the $2 billion mark.