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

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