Bitcoin ETF

Strong

Bitcoin

Spot

Grayscale Bitcoin Trust

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-attract-strong-investor-interest-amid-market-movements" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Attract Strong Investor Interest Amid Market Movements</a> 
Direct <a href="https://en.bitcoinhaber.net/bitcoin-breaks-38000-resistance-bullish-momentum-continues" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) holding ETFs are witnessing robust investor interest. According to BitMEX Research, spot Bitcoin ETFs experienced a net inflow of $33.1 million on the sixth trading day. Fidelity’s Wise Origin Bitcoin Trust (FBTC) led with an inflow of $222.3 million, followed by BlackRock’s iShares Bitcoin Trust (IBIT) with $201.5 million. Other ETFs like Invesco Galaxy Bitcoin ETF (BTCO), Ark 21Shares Bitcoin ETF (ARKB), Bitwise Bitcoin ETF (BITB), VanEck Bitcoin Trust (HODL), and WisdomTree Bitcoin Fund (BTCW) also saw significant inflows.
While other ETFs saw net inflows, the Grayscale Bitcoin Trust (GBTC) continued to experience net outflows, with more than $590 million withdrawn on the sixth trading day. Investors are pulling out of GBTC partly due to higher fund management fees compared to its competitors.
The outflow trend in Grayscale’s GBTC could also be linked to profit-making; some investors aim to benefit from the fund’s discount to its net asset value. Over $2 billion has been withdrawn from the spot Bitcoin ETF since last week. Excluding Grayscale’s GBTC, nine spot Bitcoin ETFs have cumulatively purchased over 79,618 BTC, amounting to more than $3.2 billion since their inception.
Data from BitMEX Research indicates that on the sixth trading day, spot Bitcoin ETF issuers collected an additional net 796.6 BTC, equivalent to $33 million in value. It’s noteworthy that ETFs operated 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 after just five days of trading.
As the impact of spot Bitcoin ETFs on the cryptocurrency market continues, Bitcoin advocate Vijay Boyapati suggests that ETFs will increase individual investment in Bitcoin, emphasizing their potential to be game-changers for the crypto market.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-attract-strong-investor-interest-amid-market-movements" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Attract Strong Investor Interest Amid Market Movements</a></h5>

Spot Bitcoin ETFs Attract Strong Investor Interest Amid Market Movements

BH NEWS

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