Grayscale Bitcoin Trust ETF Ends 80-Day Losing Streak with $63M Inflow
Saturday, 4 May 2024, 11:42
Grayscale Bitcoin Trust ETF Breaks Losing Streak
The Grayscale Bitcoin Trust ETF (GBTC) has successfully ended its 80-day losing streak, capturing a significant $63 million inflow on May 3.
Significant Milestone
This milestone marks the first net inflow since GBTC's transformation into a Bitcoin ETF back in January.
Competitive Edge Challenges
- Grayscale faces challenges with its higher fees compared to competitors.
- Grayscale considering a 'mini' Bitcoin ETF with lower fees to compete.
Market Insights
- Grayscale captures an inflow of $63 million amid competition from newer ETFs.
- Fidelity Wise Origin Bitcoin Fund leads in daily inflows followed by Bitwise Bitcoin Fund and others.
Overall, the recent inflow signals a positive sentiment shift towards Bitcoin ETFs among investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.