Grayscale’s GBTC outflows continue following two days of inflows

Grayscale’s GBTC outflows continue following two days of inflows
фото показано с : invezz.com

2024-5-8 10:04

After experiencing two days of inflows, US Bitcoin ETFs faced net outflows on May 7, totaling $15.7 million. Grayscale Bitcoin ETF was affected the most, with GBTC seeing a single-day net outflow of $28.6 million per SoSoValue data. 

As of the close of trading on May 7, GBTC reported cumulative outflows nearing $17.5 billion.

The fund saw its second consecutive day of net inflow on May 6, with $4 million flowing in. This came shortly after it ended its 78-day streak of net outflows on Friday, adding $63 million.

Grayscale remains in demand

Despite facing substantial outflows, Grayscale’s GBTC remains a key player among institutional investors. High management fees have not deterred significant holdings, as evidenced by Susquehanna International maintaining over $1 billion in Bitcoin within GBTC as per the first quarter filings of 2024.

Meanwhile, the share price of GBTC (NYSEARCA: GBTC) jumped by 10% over the past week due to renewed inflows. However, it faced a slight drop on Tuesday, closing at $56.11. 

The price drop followed Grayscale’s withdrawal of its application for an Ethereum ETF on the same day.

Since its transition to a spot bitcoin trust in January, GBTC has seen a net outflow of $17 billion. At the time of publication, the trust manages approximately 292,217 BTC, valued at $18.4 billion, a reduction from 619,220 BTC as of Jan. 11.

U.S. spot ETFs see continued inflows

On May 6, US-based spot bitcoin ETFs saw net inflows amounting to $217.06 million. 

Leading the inflows was Fidelity’s FBTC with $99 million, followed by Ark Invest’s Bitcoin fund with $76 million. BlackRock’s IBIT fund also recorded a significant inflow of $22 million on the same day, recovering from zero to negative flows observed the previous week.

Invesco and Galaxy Digital’s BTCO reported notable daily net inflows of $11 million. Additionally, ETFs from Bitwise, VanEck, and Franklin Templeton each recorded around $2 million in daily net inflows.

The post Grayscale's GBTC outflows continue following two days of inflows appeared first on Invezz

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin Interest (BCI) на Currencies.ru

$ 0.0055889 (+126.01%)
Объем 24H $11
Изменеия 24h: 105.15 %, 7d: 31.78 %
Cегодня L: $0.0024749 - H: $0.0055889
Капитализация $102.428k Rank 1809
Доступно / Всего 18.327m BCI / 22.3m BCI

grayscale outflows gbtc continues draw institutional interest

Источник: invezz.com

grayscale outflows → Результатов: 80


Why Bitcoin Investors Should Hold Their BTC Positions Despite Post-Spot ETF Approval Price Dump

Cryptocurrency investor Ash Crypto (@Ashcryptoreal on Twitter) recently posted an analysis on Twitter explaining why Bitcoin holders should hold onto their BTC despite the recent price drop. He argues that the dump has been driven primarily by outflows from the Grayscale Bitcoin Trust (GBTC) and that money will likely rotate into new Bitcoin spot ETFs […] The post Why Bitcoin Investors Should Hold Their BTC Positions Despite Post-Spot ETF Approval Price Dump appeared first on CaptainAltcoin.

2024-1-14 10:33


дальше еще 31 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru