JUST (jst) 
Bitcoin ETF Inflows Decline Despite Executive Order on Digital Assets
On January 23, inflows into spot Bitcoin ETFs in the United States remained sluggish, despite President Donald Trump’s efforts to establish a working group on digital assets under an executive order.
The 12 spot Bitcoin ETFs recorded $188.65 million in net inflows on Thursday, marking their fourth consecutive day of declining inflows since the beginning of the week, when they recorded over $1 billion in inflows. Bitcoin ETFs saw a significant drop in inflows, with the majority of inflows coming from BlackRock’s IBIT, totaling $154.6 million.
Top Performing Bitcoin ETFs
BlackRock’s IBIT attracted the lion’s share of inflows, leading Bitcoin ETFs in inflows for the fifth consecutive day. Other top-performing ETFs included:
- Bitwise’s BITB with inflows of $42.15 million
- Invesco Galaxy’s BTCO with inflows of $12.38 million
- Grayscale’s mini Bitcoin Trust with inflows of $11.9 million
- Fidelity’s FBTC with inflows of $9.16 million
- ARK 21Shares’ ARKB with inflows of $8.35 million
However, Grayscale’s GBTC stood out as the only outlier on the day, recording $49.94 million in outflows, offsetting some of the inflows from the other ETFs.
Bitcoin Price Momentum Shifts
The dip in inflows to Bitcoin ETFs coincided with a shift in Bitcoin’s price momentum after President Donald Trump signed an executive order aimed at establishing a working group focused on digital assets. The order fell short of expectations, stopping short of establishing a dedicated strategic Bitcoin reserve.
Initially, Bitcoin responded positively to the announcement, climbing as much as 2.7% to reach $106,732. However, after the full details of the executive order were released, sentiment shifted, and the largest cryptocurrency by market value dropped nearly 4%, hitting $102,517.
Since then, Bitcoin has shown signs of recovery, gaining 2.1% to trade at $104,991 per coin.
Trading Volume Reaches Second-Highest Level Ever Recorded
The total daily trading volume for Bitcoin investment vehicles reached $9.59 billion on January 23, marking the second-highest level ever recorded, just behind the $10.39 billion peak seen on March 5.
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