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

According to CryptoSlate reporting by Liam 'Akiba' Wright, Coin Metrics has corrected over 19 months of Bitcoin ETF-related on-chain data, impacting users of its identified-wallet series. Published via a status notice, the correction spans Bitcoin data from Feb. 7, 2025, through Sept. 17, 2026. The update touches 35 daily series and 25 hourly series, which track activity at identified ETF addresses, including deposits, withdrawals, transfer counts, transactions, net-flow, and supply measures.

Coin Metrics did not disclose the cause of the recalculation, nor did it provide before-and-after values, aggregate differences, or percentage changes. The provider failed to indicate whether the revisions raised or lowered figures or identified the largest adjustments. The affected metrics reflect provider-derived observations of blockchain activity rather than official ETF share-creation, redemption, or fund-accounting records. Because wallet movements do not serve as a one-to-one proxy for authorized-participant creations or redemptions, the practical impact is limited to work utilizing the affected Coin Metrics series. Researchers and analysts who stored those daily or hourly values may need to backfill the history and rerun their work until further explanations are published.