According to BlockBeats, CoinShares research director James Butterfill revealed that as of the close of January 16, 2024, the net outflow of cryptocurrency investment products so far this week has reached $424 million. This change reflects that investors are turning to more cost-effective US funds. Specifically, GBTC has seen $1.18 billion in outflows since the launch of spot-based ETFs, while the ProShares Bitcoin Strategy ETF (BITO) has seen outflows of $141 million this week. At the same time, the newly issued US spot Bitcoin ETF has attracted $2 billion in inflows.