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Grayscale Bitcoin Trust (GBTC) Sees Positive Shift
After a four-month period of outflows, the Grayscale Bitcoin Trust (GBTC) has experienced a turnaround with recent inflows totaling $66.9 million.
Overview of Recent Changes
- GBTC witnessed average daily outflows of $217 million since January 11.
- On May 3, a $63 million inflow marked the beginning of the positive trend.
- Total net inflow over a seven-day period amounted to $378.8 million.
- An additional $3.9 million inflow on May 6 further strengthened the positive momentum.
Bitcoin ETF Market Performance
Bitcoin ETFs in the U.S. market are showing profitability, with BlackRock’s iShares Bitcoin Trust leading with net inflows of $15.5 billion.
Key Players in Bitcoin ETF Inflows
Other top performers include Fidelity Investments’ Fidelity Wise Origin Bitcoin Fund, Cathie Wood’s ARK 21 Shares Bitcoin ETF, and the Bitwise Bitcoin ETF Trust, contributing to a total investment flow of approximately $11.8 billion.
SEC Delays Decision on Spot Ether ETFs
The U.S. Securities and Exchange Commission (SEC) has postponed decisions on spot Ether (ETH) ETF applications from industry leaders like BlackRock, Grayscale, and Invesco Galaxy to July. Other Ether ETF issuers, including Fidelity, Hashdex, Franklin Templeton, and Ark 21 Shares, are also awaiting rulings.
The SEC cites the need for additional time to evaluate proposed rule changes and address application concerns before making a decision.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
