Bitcoin ETF

Strong

Bitcoin

Spot

Grayscale Bitcoin Trust

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-attract-strong-investor-interest/" data-wpel-link="internal">Spot Bitcoin ETFs Attract Strong Investor Interest</a> 
Directly held <a href="https://en.coin-turk.com/us-inflation-report-impacts-decoding-its-potential-effect-on-bitcoin-and-altcoins/" data-wpel-link="internal">Bitcoin</a> (BTC) ETFs are facing strong investor interest. According to data compiled by BitMEX Research, net inflows to spot Bitcoin ETFs were $33.1 million on the sixth trading day. The <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude">financial</a> services giant Fidelity’s Wise Origin Bitcoin Trust (FBTC) received the lion’s share of inflows with $222.3 million. It was followed by BlackRock’s iShares Bitcoin Trust (IBIT) ETF with $201.5 million in inflows. The Invesco Galaxy Bitcoin ETF (BTCO) saw an inflow of $63.4 million, the Ark 21Shares Bitcoin ETF (ARKB) $62.6 million, the Bitwise Bitcoin ETF (BITB) $56.7 million, the VanEck Bitcoin Trust (HODL) $14.2 million, and the WisdomTree Bitcoin Fund (BTCW) $2.9 million. 
<h2 style="text-align: justify" id="strong-grayscale-s-spot-bitcoin-etf-sees-590-million-outflow-on-day-six-strong">Grayscale’s Spot Bitcoin ETF Sees $590 Million Outflow on Day Six</h2> 
While other ETFs are witnessing net inflows, the Grayscale Bitcoin Trust (GBTC) continues to see net outflows, with more than $590 million leaving on the sixth trading day. Investors are withdrawing from GBTC, partly due to Grayscale’s Bitcoin ETF charging a higher fund management fee compared to its competitors. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-305117" src="https://coin-turk.com/wp-content/uploads/2024/01/Spot-Bitcoin-ETF-3.jpeg" alt="" width="1280" height="720"> 
On the other hand, the outflow trend in Grayscale’s GBTC could also be linked to profit-taking; some investors want to benefit from the discount to the fund’s net asset value. Accordingly, more than $2 billion has exited the spot Bitcoin ETF since last week. Moreover, data provided by CCCapital15’s X branch shows that, excluding Grayscale’s GBTC, nine spot Bitcoin ETFs have cumulatively purchased over 3.2 billion dollars worth of 79,618 BTC since they started trading. 
<h2 style="text-align: justify" id="strong-etf-issuers-collect-796-btc-on-day-six-strong">ETF Issuers Collect 796 BTC on Day Six</h2> 
According to data from BitMEX, the research arm of the cryptocurrency exchange BitMEX, spot Bitcoin ETF issuers collected a net additional 796.6 BTC on the sixth trading day. This means that the funds added a net worth of $33 million in BTC to their assets. 
It is worth noting that spot Bitcoin ETFs managed by BlackRock, Fidelity, and Bitwise were among the top 10 most traded ETFs in the US last week. Additionally, the asset size of Grayscale and Fidelity’s spot Bitcoin ETFs surpassed $1 billion just after five trading days. 
While the impact of spot Bitcoin ETFs on the cryptocurrency market continues to be observed, famous Bitcoin advocate Vijay Boyapati says that ETFs will increase individual investment in Bitcoin. This statement reiterates that spot ETFs are a game-changing element for the cryptocurrency market. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/spot-bitcoin-etfs-attract-strong-investor-interest/" data-wpel-link="internal">Spot Bitcoin ETFs Attract Strong Investor Interest</a></h5>

Spot Bitcoin ETFs Attract Strong Investor Interest

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