From Quiver Quantitative:

Summary: The introduction of spot Bitcoin ETFs generated significant initial interest but has since experienced a cooling off period as indicated by recent data. JPMorgan’s analysis shows a concerning trend for the new funds, with consistent net outflows from Grayscale Investment’s spot Bitcoin ETF, reflecting a faster decline in total inflows compared to reduction in outflows from GBTC. Meanwhile, the overall market sentiment towards cryptocurrency investment vehicles is cautious, prompting JPMorgan to downgrade Coinbase Global Inc. The recent dampening of enthusiasm for spot Bitcoin ETFs poses challenges and will be telling for the future of cryptocurrency investment.



Read more: The Cooling Interest in Bitcoin ETFs