Grayscale’s GBTC spot bitcoin ETF sees $63 million of inflows, ending 78-day outflow streak | Headlines | News | CoinMarketCap
05/04/2024 14:48
Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run …
Grayscale’s GBTC spot bitcoin exchange-traded fund witnessed its first-ever (since it was converted) daily net inflows on Friday, ending a 78-day run of consecutive outflows.
GBTC’s cumulative outflows since the U.S. spot bitcoin ETFs began trading on Jan. 11 totaled more than $17.5 billion by May 2, but the higher-fee fund suddenly generated $63 million worth of inflows on Friday, according to data from Farside Investors and CoinGlass.
“Holy crap GBTC had inflows today. Its 80 day-ish streak is finally over,” Bloomberg ETF analyst Eric Balchunas posted on X. “I had to run my eyes and double check the data but it’s true.”
“GBTC outflow streak is OVER… Took in $63 million,” The ETF Store President Nate Geraci said. “‘The Bitcoin Shining’ can now be hung in a museum,” he added, referring …