(Bloomberg) -- Interest in the much anticipated spot Bitcoin ETFs appears to be cooling, with Wednesday marking the group’s lowest single-day of investor gross inflows since trading began on Jan. 11.

The nine new funds received about $270 million in inflows yesterday, according to a report from JPMorgan Chase & Co. Once outflows from Grayscale Investment’s spot Bitcoin ETF are taken into account, overall net net outflows were about $153 million on Wednesday,  It’s the third consecutive day of net outflows for the 10 funds. Outflows have come exclusively from GBTC, which converted from a trust following the US Securities and Exchange Commission’s approval of the investment vehicle.

JPMorgan called the group’s flow performance “disappointing,” citing it as a reason behind their downgrading earlier this week of cryptocurrency exchange Coinbase Global Inc., according to the analyst report Thursday.  

Since the debut, the nine new ETFs have received $5.2 billion in inflows, offsetting the $4.4 billion in outflows from GBTC. But recent days have seen that balance shift. While daily net outflows from GBTC are decreasing, total inflows in the other nine ETFs are decreasing even faster. Total net inflows are $857 million. 

Even with the slowdown in demand, the group of spot Bitcoin ETFs had the most successful ETF launch in history by both trading and flow metrics, according to Bloomberg Intelligence analysts.  

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