Bitcoin ETF

Bitcoin

Million

Spot

Grayscale Bitcoin Trust

<p>Grayscale’s spot Bitcoin ETF, after experiencing a continuous outflow streak since its launch on January 11, saw a notable turnaround with $63 million in new inflows. According to reports, this significant shift is its first inflow <a href="https://thecoinrise.com/grayscale-btc-etf-records-lowest-outflows-since-debut/" rel="noopener noreferrer nofollow">since its conversion</a>. The ETF’s reversal in fortunes is seen as a positive development, ending a challenging 78-day stretch of outflows.</p>
<h2 id="b-grayscale-is-beginning-to-gain-traction-b"><b>Grayscale is Beginning to Gain Traction</b></h2>
<p>According to <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside Investors</a> and CoinGlass <a href="https://www.coinglass.com/bitcoin-etf" rel="noopener noreferrer nofollow">data</a>, Grayscale’s higher fee fund generated $63 million in inflows. However, the $63 million inflow signals a shift in investor sentiment towards the GBTC ETF, possibly driven by market conditions and evolving perceptions of Bitcoin’s potential. Likewise, the recent trend reversal may indicate a turning point for the ETF, with investors reassessing their positions and outlooks.</p>
<p>In another <a href="https://x.com/EricBalchunas/status/1786517760937218354" rel="noopener noreferrer nofollow">tweet</a>, Bloomberg ETF analyst Eric Balchunas expressed his shock. He confirmed that he had to double-check the data to confirm. The ETF store president Nate Geraci also <a href="https://twitter.com/NateGeraci/status/1786536112669720969" rel="noopener noreferrer nofollow">confirmed </a>that the GBTC outflow streak is over. “The Bitcoin Shining” can now be hung in the museum, he added showing the GBTC flow chart.</p>
<p>As of January 11, GBTC had 619,220 BTC ($18.3 billion) in assets under management, which has since <a href="https://etfs.grayscale.com/gbtc" rel="noopener noreferrer nofollow">decreased </a>by 53% to 291,239 BTC.</p>
<h2 id="b-spot-btc-etfs-gaining-traction-b"><b>Spot BTC ETFs Gaining Traction</b></h2>
<p>In contrast, other crypto funds have been gaining traction. <a href="https://thecoinrise.com/blackrock-fidelity-spot-btc-etfs-witness-biggest-debut-month-for-an-etf-in-30-years/" rel="noopener noreferrer nofollow">BlackRock’s IBIT has accumulated</a> over $6.6 billion in investments since its launch, closely followed by Fidelity’s FBTC with over $4.7 billion in capital. The third position is secured by ARK 21Shares, attracting inflows of $1.4 billion over the same period.</p>
<p>Meanwhile, analysts suggest that investors have been rebalancing their portfolios and mitigating towards Bitcoin ETFs with lower fees. However, with a 1.5% annual management fee, Grayscale BTC ETF has faced competition from other issuers charging as little as 0.19%.</p>
<h2 id="b-six-days-of-inflows-in-spot-bitcoin-etf-b"><b>Six Days of Inflows in Spot Bitcoin ETF</b></h2>
<p>This report comes when the US spot Bitcoin ETF industry <a href="https://thecoinrise.com/spot-bitcoin-etf-surge-makes-record-accumulation-splash/" rel="noopener noreferrer nofollow">recorded six straight days of net positive inflows</a> totaling nearly $715 million. However, the inflows were recorded majorly in BlackRock and Fidelity’s offerings, as pointed out by BitMEX.</p>
<p>Additionally, the six straight days of inflows come after <a href="https://thecoinrise.com/spot-bitcoin-etf-weekly-outflows-hit-500m-globally-coinshares/" rel="noopener noreferrer nofollow">four days of outflows from the spot Bitcoin ETFs</a> between January 22 and 25, when GBTC outflows peaked. <a href="https://thecoinrise.com/blackrock-surpasses-grayscales-gbtc-in-daily-trading-volume/" rel="noopener noreferrer nofollow">Grayscale recorded its second-lowest outflow</a> day on February 2 at $144.6 million.</p>
<p>The post <a href="https://thecoinrise.com/grayscale-spot-bitcoin-etf-see-63-million-of-inflows/" rel="noopener noreferrer nofollow">Grayscale Spot Bitcoin ETFs See $63 Million of Inflows</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.</p>

Grayscale Spot Bitcoin ETFs See $63 Million of Inflows

목차

TheCoinrise Media

2024년 5월 4일에 게재된 다른 기사

Saylor: SEC Akan Cap ETH Sebagai Sekuritas dan Tolak Pengajuan ETF Ethereum

Russian Found Guilty in BTC-e Money Laundering Case

5 Reasons Why Crypto Prices Are Surging Today?

Crazy Wolf (CRAWOLF) Coin Will Surge 7,000% Within 48 Hours, Looks to Challenge Shiba Inu and Dog...

Shiba Inu Maintains Strength Despite Market Volatility

Crypto Investments Gaining Traction Among Pension Funds as per Report

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!