Bitcoin ETF

Bitcoin

Spot

Grayscale Bitcoin Trust

Billion

The newly launched spot Bitcoin <a href="https://news.todayq.com/thai-investors-get-nod-for-bitcoin-etfs-but-theres-a-catch/" rel="noopener noreferrer nofollow">Exchange-Traded Fund</a> (ETF) just knocked off another major milestone with BTC’s ongoing bull run. The latest data shows that Spot BTC ETFs registered a record day with more than $1 billion of net inflow on March 12, 2024. It is the first time these crypto products’ net inflow has hit the billion mark in a day. Bitcoin ETFs bag big 
According to the data, BlackRock, a leading asset manager, recorded a historic $849 million of inflow into its Bitcoin ETF. However, if we talk in BTC terms, a record 14,706 BTC inflow was reported on March 12. The total net inflow into Bitcoin ETFs since January 11, 2024, reaches the $4.1 billion mark.
In the latest developments in the ETF arena, Grayscale Investments went ahead and filed for a spin off of its spot ETF, the Grayscale Bitcoin Trust (GBTC). Fillings show that the spin off aims to offer investors lower-fee exposure to Bitcoin. The firm had tried to address one of the major factors contributing to the higher fees of GBTC compared to others.
GBTC received an impending approval from the US Securities and Exchange Commission (SEC) to convert from a trust to an ETF in January. Since then it has faced capital outflows of $11.05 billion. Grayscale’s new move 
Going with the flow, <a href="https://news.todayq.com/grayscale-opens-doors-to-solana-bch-for-special-investors/" rel="noopener noreferrer nofollow">Grayscale</a> filed to list shares of a new investment product. Filling shows that they had decided to name it Grayscale Bitcoin Mini Trust. It will hold a certain amount of Bitcoin from GBTC. As reported, the current GBTC shareholders will get stock in the Mini Trust in exchange for Bitcoin held by GBTC. Meanwhile, the investment firm is yet to determine the fees for the Mini Trust.
As we evaluate the data around spot BTC ETFs, it can be seen that competitors like BlackRock’s iShares Bitcoin ETF and Fidelity Wise Origin Bitcoin Fund have seen some massive inflows.
BlackRock’s ETF saw a record $849 million inflow that eventually contributed to the overall influx in the market. The positive sentiments pushed by the launch of the investment products aligned with the Federal Reserve interest rate cut expectation have moved Bitcoin to new heights.
In the latest move, the world’s biggest crypto breached the much awaited price level of $73,000. Bitcoin’s new all time high of $73,637 comes in when the Bitcoin is moving towards the crucial halving event.
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$1 Billion inflows in one day, Spot Bitcoin ETFs sets new record

Todayq News

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