Performance Update on Bitcoin ETFs: Day 15 (Patreon)

Negative Developments:

1. Fidelity's Bitcoin ETF ($FBTC) has experienced a slowdown in activity.
2. The day marked the 7th slowest in terms of money flow for Bitcoin ETFs, with a net inflow of $40 million, indicating a mid-point in performance.

Positive Developments:

1. Grayscale Bitcoin Trust (GBTC) reports stabilization with no new withdrawals in the last two days, suggesting that its worst phase may be over.
2. BlackRock's Bitcoin ETF ($IBIT) has shown a significant rebound, nearly offsetting the outflows from GBTC.
3. There has been a cumulative net inflow of $1.5 billion, with the total reaching $7.3 billion across all Bitcoin ETFs.

Financial Highlights:

1. The 15th day emerged as the 7th largest in terms of money flow, with a significant $40 million net inflow.
2. Post-GBTC adjustments, the net positive inflow into Bitcoin ETFs stands at $1.5 billion, with a noteworthy addition of over $7.3 billion in the span of 15 days.

Market Impact:

1. A net addition of 37,110 Bitcoin was absorbed from the market, averaging 2,500 per day, a figure that notably exceeds the daily mining output of 900 Bitcoins.
2. The new Bitcoin ETFs collectively hold over 176,000 BTC, highlighting a strong market uptake and investor interest in Bitcoin through ETF mechanisms.