Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

The rare inflows to Grayscale’s spot Bitcoin exchange-traded fund (ETF) dried up within two days as outflows returned.
The Grayscale Bitcoin Trust (GBTC) ETF <a href="https://cointelegraph.com/news/grayscale-bitcoin-trust-gbtc-inflows">recorded inflows worth $66.9 million in May</a> after bleeding over $17.5 billion in 78 days straight since its Jan. 11 launch. The investments came in on May 3 and 6, each day attracting $63 million and $3.9 million, respectively.
However, the inflow trend has failed to maintain momentum since.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/f8a93cc1-6392-4da0-8c53-141960ca58eb.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 Investment inflows and outflows for U.S.-based spot Bitcoin ETF market, USD. Source: Farside
 </figcaption>
</figure>
GBTC recorded outflows worth $28.6 million and $43.4 million on May 7 and 9, respectively — undoing the investments it had recently brought in. On both days, Grayscale was the only spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;ETF issuer to report outflows. 
The rest of the nine Bitcoin ETFs approved by the United States Securities and Exchange Commission (SEC) recorded positive or no investments during the timeframe.
On average, the Grayscale Bitcoin Trust has lost $211 million daily since its launch. However, inflows to the other ETFs have kept the net balance at a positive $11.7 billion.
All Bitcoin ETF issuers, except GBTC, have positive inflow balances. Out of the lot, BlackRock’s iShares Bitcoin Trust attracted the highest investments, racking up nearly $15.5 billion to date.
Other prominent issuers include Fidelity’s Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF and Cathie Wood’s ARK 21Shares Bitcoin ETF, which currently sport net inflows of $8.1 billion, $1.7 billion and $2.2, respectively. 
Related: <a href="https://cointelegraph.com/news/grayscale-bitcoin-trust-gbtc-inflows">Grayscale Bitcoin ETF takes the slow train to recoup $17.4B outflows</a>
Speaking exclusively to Cointelegraph at Paris Blockchain Week in April, VanEck CEO Jan VanEck said the <a href="https://cointelegraph.com/news/retail-investors-bitcoin-etf-vaneck">retail sector brings in 90% of Bitcoin ETF inflows</a>. “You’ve had some Bitcoin whales and some other institutions move some assets in, but they were already exposed to Bitcoin,” he said.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-05/360d212a-3626-4964-8b12-a78e8c025ab1.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Jan VanEck (right) on stage at Paris Blockchain Week with Cointelegraph journalist Gareth Jenkinson. Source: Cointelegraph
 </figcaption>
</figure>
However, VanEck anticipated the arrival of some major institutional investments from banks and traditional firms by May.
Magazine: <a href="https://cointelegraph.com/magazine/sic-ais-on-each-other-artificial-intelligence-threat-alignment-david-brin-author/">How to stop the artificial intelligence apocalypse: David Brin, Uplift author</a>

Grayscale Bitcoin ETF nullifies $66.9M inflows in 2 days

Cointelegraph

发布于 2024年5月10日的其他文章

How the NFT Transparent Marketplace Wins Over Game Skin Markets

Franklin Bitcoin ETF Trading Rules Proposed Changes By CBOE To Better Support Investors

Crypto for the Masses: Scopuly’s Vision of Financial Inclusivity on the Stellar Network

Robinhood Wells Notice Is a Warning to Tokens Violation Of Securities Laws, SEC Chair Said

Cardano Founder Charles Hoskinson Says Voting For Biden Is A 'Vote Against American Crypto Industry'

Stablecoins to Fail? Deutsche Bank Raises Red Flags on Transparency and Backing

订阅我们免费的电子期刊，获取每日最新加密领域动态！