The Grayscale Bitcoin Belief ETF lastly drew extra new money than it misplaced, snapping an 11-week streak with a positive gain of $63 million, in line with CoinGlass.
GBTC has been seen so many traders cashing out since competing spot Bitcoin ETFs have been authorized in January, its outflows alone typically weighed down your entire nascent area.
“Holy crap $GBTC had inflows right this moment,” tweeted Bloomberg ETF analyst Eric Balchunas. “Their 80 day-ish streak is lastly over. I needed to run my eyes and double verify the information but it surely’s true.”
Holy crap $GBTC had inflows right this moment. Their 80 day-ish streak is lastly over. I needed to run my eyes and double verify the information but it surely’s true. https://t.co/I4TTU4q5Q1
The excellent news for Grayscale comes quickly after spot Bitcoin ETFs logged their worst day on record, when half a billion {dollars} in web outflows coincided with a drop within the worth of BTC on Wednesday.
Bitcoin ETFs noticed mid-week outflows of $563 million, CoinGlass information confirmed, overshadowing the earlier every day document $326 million set n in mid-March.
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Grayscale Bitcoin ETF Snaps Losing Streak, Pulls In $63 Million decrypt.co 2024-05-03 22:33:45