Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">The Grayscale Bitcoin Trust (GBTC), the largest Bitcoin ETF by assets, experienced a net inflow of new money from investors for the first time since its debut in January, according to <a href="https://farside.co.uk/?p=997" rel="noopener noreferrer nofollow">Farside Investors</a>. On Friday, May 2, a net $63 million was added to the trust.</p>
<blockquote>
 <p lang="en" dir="ltr">Bitcoin ETF Daily FlowGBTC US$ Flow: 63 millionFor all the data and disclaimers visit:<a href="https://t.co/4ISlrCgZdk" rel="noopener noreferrer nofollow">https://t.co/4ISlrCgZdk</a></p>— Farside Investors (@FarsideUK) <a href="https://twitter.com/FarsideUK/status/1786515781053817108?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 3, 2024</a>
</blockquote>
<p dir="ltr">GBTC has long been a popular financial instrument for investing in Bitcoin (BTC) without directly purchasing the cryptocurrency. However, it faced increased competition in January when it was converted into an easier-to-trade ETF, coinciding with the launch of nine rival spot Bitcoin ETFs.</p>
<p dir="ltr">Due to its relatively higher fees, investors withdrew billions of dollars from GBTC, resulting in a streak of 78 consecutive days of outflows that ended last Friday.</p>
<p dir="ltr">Currently, GBTC holds $18.1 billion in assets, while IBIT, which now ranks second, started from zero in January and currently holds $16.9 billion. GBTC's assets have declined from over $26 billion previously.</p>
<h2 id="perfect-friday-for-bitcoin-etfs">Perfect Friday for Bitcoin ETFs</h2>
<p dir="ltr">According to <a href="https://sosovalue.xyz/assets/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a>, the Bitcoin spot ETF experienced a total net inflow of $378 million on May 3, marking the first net inflow after seven consecutive days of net outflows. Additionally, the Grayscale ETF GBTC saw a rare single-day inflow of $63.0112 million.</p> <img height="377" src="https://lh7-us.googleusercontent.com/Zapgf0HLJXDg6juGRuQe7_eWavaheNvCGA9Mv7mHGe0yPoZ2RtaFrK116Qxj5k6lwhzxXdPeH5U5mBn2mhR-9RCxLas9iXyqvDzkbfmquNnnqP8AUA9wcaScstpAhanGNOwZqfY3OuRk_iUUv1KX-ps" width="602">Source: <a href="https://sosovalue.xyz/assets/us-btc-spot" rel="noopener noreferrer nofollow">SoSoValue</a>
<p dir="ltr">In Hong Kong, the total net assets of the three Bitcoin spot ETFs amount to approximately $250 million, with holdings of approximately 4,225 BTC. Similarly, the total net assets of the three Ethereum spot ETFs in Hong Kong are approximately $48.52 million, with holdings of approximately 16,000 ETH.</p>
<h2 id="bulls-return">Bulls return?</h2>
<p dir="ltr">BTC ETF flows <a href="https://u.today/inflows-vs-outflows-will-bitcoin-etfs-lose-momentum" rel="noopener noreferrer nofollow">started to slow</a> in April due to unexpectedly higher U.S. inflation for the second consecutive month, compounded by the Federal Reserve's accommodative monetary policy maintaining interest rates at a 23-year high following disappointing inflation data.</p>
<p dir="ltr">By May 2, every ETF recorded outflows for the first time, totaling $563.7 million — the largest losses since trading began in January. This decline has persisted for nearly two months, with funds experiencing approximately $6 billion in losses over the past four weeks, representing a 20% drop in assets under management.</p>

Grayscale ETF Records First Day of Inflows Ever

目录

U_Today

发布于 2024年5月4日的其他文章

Ripple CEO Brad Garlinghouse Shares Insights on Ethereum (ETH) and Ripple (XRP) Developments

FET Vs Render: Which AI Altcoin to Buy, Sell or Hodl in May?

Potential Reversal on the Horizon for Bitcoin (BTC), Latest Indicator Analysis Reveals

CF Benchmarks Predicts Strong Growth for Hong Kong Crypto ETFs by 2024

With the official launch of Platform Mesh, Microsoft Teams now offers support for 3D and VR meeti...

BTC-e founder pleads guilty in $9B money laundering conspiracy

订阅我们免费的电子期刊，获取每日最新加密领域动态！