Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<ul class="news-points">
 <li>BlackRock’s Bitcoin ETF, IBIT, attracted $73.4 million in net inflows on Monday, while other ETFs remained stable.</li>
 <li>The Grayscale Bitcoin Trust (GBTC) saw significant outflows, with a reduction of $110 million on the same day.</li>
 <li>Hong Kong approves asset managers to establish Bitcoin and Ether exchange-traded funds (ETFs).</li>
</ul>
BlackRock’s Bitcoin ETF, IBIT, was the only U.S. spot Bitcoin ETF to attract inflows on Monday. In contrast, other ETFs did not experience new inflows or outflows. Per data from <a href="https://t.co/hDg6y3tlVD" target="_blank" rel="noopener noreferrer nofollow">SoSoValue</a>, IBIT gathered approximately $73.4 million in net inflows.&nbsp;
Still, these were insufficient to offset significant outflows from other funds, particularly the Grayscale Bitcoin Trust. GBTC reported a $110 million reduction on the same day, putting its historical net outflow at $16.38 billion.
Notably, ten Bitcoin spot ETFs have recorded a net outflow of $91.8 million collectively. This trend reflects investor caution, prompted by recent volatile movements in Bitcoin’s price, which declined by 11.6% last week to about $63,410.
Over the past week, GBTC recorded the most substantial outflows, losing $767 million. Although funds like IBIT and the Fidelity Wise…
The post <a href="https://coinedition.com/blackrocks-bitcoin-etf-ibit-attracts-73m-inflows-others-stagnant/" rel="noopener noreferrer nofollow">BlackRock’s Bitcoin ETF IBIT Attracts $73M Inflows, Others Stagnant</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

BlackRock’s Bitcoin ETF IBIT Attracts $73M Inflows, Others Stagnant

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