Grayscale's Bitcoin ETF (BTC) Sees Positive Inflow After 11 Weeks of Outflows

by Giorgi Kostiuk

2 years ago

The Grayscale Bitcoin Trust ETF, known for its popularity as a Bitcoin investment option, has experienced a positive gain of $63 million, breaking an 11-week streak of outflows, as reported by CoinGlass. Investors were withdrawing funds from GBTC after competing spot Bitcoin ETFs were given the green light in January.

Given these recent developments, discussions about the future of GBTC and the broader crypto market have been sparked.

Implications of GBTC's Unexpected Inflow

Analyst Eric Balchunas from Bloomberg tweeted his astonishment at the sudden change in GBTC's fortunes. This unexpected turn of events has led to speculation about what lies ahead for GBTC and the crypto industry.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Japan Tightens Access to Crypto Through Regulated Exchanges

Japanese authorities are enforcing stricter access to cryptocurrency platforms, limiting services to those that comply with domestic regulations.

Rajesh Kumar2 days ago

PEPE Token Shows Strong Performance Against Major Cryptocurrencies

PEPE token showed strong performance with a 146% increase against USD, maintaining stability and key support levels.

Jesper Sørensen2 days ago

Vitalik Buterin Emphasizes Individual Sovereignty in Ethereum Development

Vitalik Buterin emphasizes the importance of individual sovereignty in Ethereum development, urging developers to prioritize resilience over convenience.

Lucas Weissmann2 days ago

Institutional Interest in Ethereum Grows Amid Regulatory Clarity

Institutional investors are increasingly building on Ethereum due to clearer regulatory frameworks in the U.S., leading to a surge in stablecoin transfer volume.