BTC Price Index and Live Chart – CoinDesk”>(BTC) exchange-traded funds (ETFs) offset the abating outflows from Grayscale’s flagship fund, GBTC, asset manager CoinShares reported Monday.

BlackRock’s IBTC and Fidelity’s FBTC are the clear leaders of the newly-issued spot bitcoin ETFs. They have respectively received $884 and $674 millions in weekly inflows. The figures are slightly higher in dollar terms than the previous week.

Investors withdrew $927 million, a significant drop from the $2.2 billion bleeding from last week.

Crypto fund flows (CoinShares).

James Butterfill of CoinShares’ head of research noted that “data highlights a significant decrease in momentum of this outflow in recent weeks.”

Over the past few weeks, outflows from bitcoin funds such as GBTC were a cause for concern. This is because spot BTC ETFs began trading in the U.S. starting on Jan. 11, 2011. Outflows from existing bitcoin funds like GBTC have slowed after a brief wave of withdrawals – mostly due to profit-taking, FTX sales and GBTC holdings . Inflows into new entrants are still consistent.

The report noted that by the end of last weekend, new bitcoin ETFs had accumulated $7.7 billion, which was more than enough to offset the $6 billion of outflows of funds from existing exchanges.

SOL Price Index and Live Chart – CoinDesk”>(SOL), which managed a remarkable comeback last year with a 10-fold price gain, topped inflows to altcoin-focused funds with $13 million. ETH Price Index and Live Chart – CoinDesk”>(ETH) and Avalanche’s native token <a data-position="autolink" href="" title="Avalanche Price

Sheldon Reback is the editor.