Coinspeaker
Grayscale’s Spot Bitcoin ETF Sees Second Day of Positive Flows

Grayscale’s spot Bitcoin exchange-traded fund (ETF) GBTC recorded yet another daily net inflow on Monday, its second time to do so in a long time. According to SoSo Value data, the GBTC saw about $4 million on the day to continue its momentum from last Friday.

Since GBTC’s conversion into a spot Bitcoin trust in January, it has experienced untold levels of outflows. Its cumulative net outflows stand at $17 billion. This means that it has gone from managing 619,220 BTC as of January 11 to the current 292,217 BTC ($18.4 billion) under its management. That is according to data available on its website.

Despite the lacklustre outlook for the fund, the GBTC ETF saw its 78-day streak of net outflows come to an end on Friday. It saw an inflow of $63 million on the day and has now extended the inflow streak.

GBTC Paints a General Picture of US Spot Bitcoin ETFs

Meanwhile, Monday was a general day of inflows for the 11 US-based spot bitcoin ETFs. The funds added a total of $217.06 million worth of funds on Monday, with Fidelity’s FBTC doing the most. FBTC led the net inflows with $99 million and was followed by Ark Invest’s Bitcoin fund, which saw $76 millio...