Coin Metrics Corrects ETF On-Chain Data

Data analytics firm Coin Metrics has announced a significant correction to its on-chain data series related to Bitcoin exchange-traded funds (ETFs). The adjustments cover a period of more than 19 months, specifically from February 7, 2025, to September 17, 2026.

The affected data includes numerous daily and hourly metrics, such as ETF deposit and withdrawal volumes, transaction counts, and net flow measures. Coin Metrics clarified that these figures represent their observations of activity linked to addresses they identify as belonging to ETFs, not official accounting records from ETF issuers.

The notice did not specify the cause of the recalculation or provide details on the magnitude of the changes, leaving users to reassess analyses built on the previously reported figures. This highlights the distinction between on-chain activity attributed to ETF addresses and the formal processes of ETF share creation and redemption managed by authorized participants. Investors and analysts relying on Coin Metrics' ETF wallet data should consult their latest updates for revised figures.