Coin Metrics revises 19 months of ETF wallet data but by how much?

What happened

Coin Metrics revised 19 months of ETF wallet data, covering 35 daily and 25 hourly series, according to CryptoSlate. The company did not disclose the cause, direction, or size of the revision.

Confirmed

Global impact / market context

Investors who relied on this ETF wallet data for Bitcoin fund flow analysis may need to reassess prior conclusions, because undisclosed revisions can change historical totals and make comparisons across periods unreliable without knowing the size or direction of the change.

Analyst inference

ETF wallet data helps investors track Bitcoin held by exchange-traded funds, so a silent revision to 19 months of records can weaken confidence in flow metrics used for positioning. Without a stated cause or numerical delta, distinguishing a data error from a methodology change is difficult.

Analyst inference

What to watch

1. Coin Metrics has not disclosed the cause, direction, or numerical delta of the revision to the 35 daily and 25 hourly ETF wallet series. Confirmed
2. Investors could compare pre- and post-revision ETF wallet figures once Coin Metrics publishes updated historical values, to see whether reported Bitcoin holdings changed materially. Proposed
3. If the revision reflects a methodology change, historical ETF flow comparisons may break, potentially affecting how investors interpret Bitcoin fund demand and positioning. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cryptoslate.com