Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

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<p dir="ltr">The Grayscale Bitcoin Trust (GBTC), the largest Bitcoin ETF by assets, experienced a net inflow of new money from investors for the first time since its debut in January, according to <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside Investors</a>. On Friday, May 2, a net $63 million was added to the trust.</p>
<blockquote>
 <p lang="en" dir="ltr">Bitcoin ETF Daily FlowGBTC US$ Flow: 63 millionFor all the data and disclaimers visit:<a href="https://t.co/4ISlrCgZdk" rel="noopener noreferrer nofollow">https://t.co/4ISlrCgZdk</a></p>— Farside Investors (@FarsideUK) <a href="https://twitter.com/FarsideUK/status/1786515781053817108?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 3, 2024</a>
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<p dir="ltr">GBTC has long been a popular financial instrument for investing in Bitcoin (BTC) without directly purchasing the cryptocurrency. However, it faced increased competition in January when it was converted into an easier-to-trade ETF, coinciding with the launch of nine rival spot Bitcoin ETFs.</p>
<p dir="ltr">Due to its relatively higher fees, investors withdrew billions of dollars from GBTC, resulting in a streak of 78 consecutive days of outflows that ended last Friday.</p>
<p dir="ltr">Currently, GBTC holds $18.1 billion in assets, while IBIT, which now ranks second, started from zero in January and currently holds $16.9 billion. GBTC's assets have declined from over $26 billion previously.</p>
<h2 id="perfect-friday-for-bitcoin-etfs">Perfect Friday for Bitcoin ETFs</h2>
<p dir="ltr">According to <a href="https://sosovalue.xyz/assets/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a>, the Bitcoin spot ETF experienced a total net inflow of $378 million on May 3, marking the first net inflow after seven consecutive days of net outflows. Additionally, the Grayscale ETF GBTC saw a rare single-day inflow of $63.0112 million.</p> <img height="377" src="https://lh7-us.googleusercontent.com/Zapgf0HLJXDg6juGRuQe7_eWavaheNvCGA9Mv7mHGe0yPoZ2RtaFrK116Qxj5k6lwhzxXdPeH5U5mBn2mhR-9RCxLas9iXyqvDzkbfmquNnnqP8AUA9wcaScstpAhanGNOwZqfY3OuRk_iUUv1KX-ps" width="602">Source: <a href="https://sosovalue.xyz/assets/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a>
<p dir="ltr">In Hong Kong, the total net assets of the three Bitcoin spot ETFs amount to approximately $250 million, with holdings of approximately 4,225 BTC. Similarly, the total net assets of the three Ethereum spot ETFs in Hong Kong are approximately $48.52 million, with holdings of approximately 16,000 ETH.</p>
<h2 id="bulls-return">Bulls return?</h2>
<p dir="ltr">BTC ETF flows <a href="https://u.today/inflows-vs-outflows-will-bitcoin-etfs-lose-momentum" rel="noopener noreferrer nofollow">started to slow</a> in April due to unexpectedly higher U.S. inflation for the second consecutive month, compounded by the Federal Reserve's accommodative monetary policy maintaining interest rates at a 23-year high following disappointing inflation data.</p>
<p dir="ltr">By May 2, every ETF recorded outflows for the first time, totaling $563.7 million — the largest losses since trading began in January. This decline has persisted for nearly two months, with funds experiencing approximately $6 billion in losses over the past four weeks, representing a 20% drop in assets under management.</p>

Grayscale ETF Records First Day of Inflows Ever

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