The Grayscale Bitcoin Trust ETF finally drew more new cash than it lost, snapping an 11-week streak with a positive gain of $63 million, according to CoinGlass.

GBTC has been seen so many investors cashing out since competing spot Bitcoin ETFs were approved in January, its outflows alone often weighed down the entire nascent space.

“Holy crap $GBTC had inflows today,” tweeted Bloomberg ETF analyst Eric Balchunas. “Their 80 day-ish streak is finally over. I had to run my eyes and double check the data but it’s true.”

He added: “On a scale of 1-10 how ‘we’re so back’ is this?”

GBTC is still the largest Bitcoin spot ETF, with over $18.7 billion assets under management (AUM) coupled with about 297,000 Bitcoin. But constant outflows allowed newer competitors to close the gap, and the BlackRock iShares Bitcoin Trust (IBIT) has $17.2 billion AUM as of Tuesday.

The good news for Grayscale comes a day after competing ETF IBIT from investment giant BlackRock saw its first down day. IBIT had swelled to $15.4 billion since its Wall Street launch, but contracted by $37 million yesterday, according to Farside Investors. The entire slate of ETFs saw outflows of $563 million, recording their worst day ever amid a drop in the price of BTC on Wednesday.

Bitcoin ETFs saw mid-week outflows of $563 million, CoinGlass data showed, overshadowing the previous daily record $326 million set in mid-March.

The non-stop outflows for GPTC prompted some analysts to contemplate whether the one-time dominant fund would run out of Bitcoin.

To offset its losses, Grayscale has proposed a “mini” Bitcoin ETF with lower fees, aiming to better compete with nearly a dozen massively popular newcomers.

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