Grayscale Bitcoin Trust has experienced its first ever inflow, after experiencing significant daily outflows.
Grayscale Bitcoin ETF Records Over $60 Million In Inflows
Grayscale’s Spot Bitcoin ETF has finally broken its 82-day streak of outflows since its launch on January 11, 2024. GBTC experienced its first day of positive inflows on the third of May, after experiencing approximately $17.46bn in outflows.
According to data from Farside, an investment management firm, Grayscale’s Spot Bitcoin ETF had amassed inflows of about $63 million, alongside other Bitcoin ETFs like BlackRock’s iShares Bitcoin Trust (IBIT) which had inflows of $12.7 million.
The total inflows recorded in that single day amounted to approximately $378.3 million, with Franklin Templeton’s Spot Bitcoin ETF, EZBC, leading the pack with the highest inflows of $102.6 million.
Expressing disbelief at Grayscale’s turnaround, Bloomberg senior analyst and ETF expert, Eric Balchunas remarked that he had to make thorough verifications to confirm the unexpected development.
Moreover, the surprising influx comes after a recent occurrence which saw 10 US Spot Bitcoin ETFs, including BlackRock’s IBIT,…
