Bitcoin spot ETF yesterday (January 20th, Eastern Time) experienced a significant outflow of funds, with a total net outflow of $483 million in a single day. Among them, Grayscale's GBTC led the outflow list, with a net outflow of $161 million on that day. This former market darling now faces considerable pressure, with a cumulative net outflow exceeding $25.5 billion, which clearly indicates a shift in market sentiment.

However, Fidelity's FBTC performed much more stably. Although it also experienced a single-day net outflow of $152 million yesterday, its cumulative net inflow has reached $11.764 billion, maintaining a second-tier position in growth. This divergence reflects investors' differentiated choices among various products.

From the overall market perspective, the total net asset value of Bitcoin spot ETF is currently around $116.7 billion, accounting for approximately 6.51% of Bitcoin's total market capitalization. Cumulatively, this sector has achieved a net inflow of $57.339 billion since its inception, a figure that underscores the important role of spot ETFs in institutional allocations.