Bitcoin

Grayscale Bitcoin Trust

Spot

Spot Bitcoin ETFs in the United States have been drawing significant investor interest, despite experiencing notable outflows earlier in August.
On August 16, <a href="https://www.cryptotimes.io/2024/06/19/bitcoin-spot-etfs-witness-152m-outflow-on-june-18/" target="_blank" rel="noopener noreferrer nofollow">data</a> from FarsideInvestor indicated a weekly net inflow of $35.9 million for spot Bitcoin ETFs, contrasting with outflows of $237.45 million and $89.73 million on August 2 and August 9, respectively.
The market has given forth conflicting ideas. Spot Bitcoin ETFs saw inflows despite the Grayscale Bitcoin Trust (GBTC) seeing a $72.9 million outflow on August 16. The net inflow for the day was $36 million. Historically, the Grayscale Bitcoin Mini Trust ETF has seen net inflows of $288 million while GBTC has seen significant withdrawals of $19.6 billion.
The decline in GBTC’s performance is linked to the NYSE Arca’s withdrawal of a proposed rule change that would have facilitated the trading of GBTC and similar cryptocurrency ETFs.
The Fidelity Bitcoin Fund ETF had its largest net inflow of $61.3 million on the same day, increasing its entire net inflow history to $9.8 billion. A net inflow of $20.4 million was also recorded by BlackRock’s iShares Bitcoin Trust ETF, bringing its total historical value to $20.38 billion.
As of now, the total net asset value of spot Bitcoin ETFs stands at $54.35 billion, with a cumulative net inflow of $17.37 billion, reflecting the growing integration of these investment products into the broader financial market.
A recent filing with the U.S. Securities and Exchange Commission on August 14 revealed that Morgan Stanley holds $188 million worth of shares in a spot Bitcoin ETF, further underscoring institutional interest in these assets.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/08/06/crypto-fear-index-hits-extreme-low-amid-168m-etf-outflows/" target="_blank" rel="noopener noreferrer nofollow">Crypto Fear Index Hits Extreme Low Amid $168M ETF Outflows</a>
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Spot Bitcoin ETFs in U.S. Draw Major Investor Interest

The Crypto Times

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