GBTC - Bitcoin Spot ETF Inflows On Fire: Will Grayscale's Reign Be Overthrown? | Benzinga
Bitcoin (CRYPTO: BTC) spot exchange-traded funds (ETFs) continued their strong net inflows trend, challenging the long-held reign of Grayscale's Bitcoin Trust (OTC: GBTC).
What Happened: According to data from SoSoValue, total net inflows into Bitcoin spot ETFs on March 7 reached a staggering $472 million.
This surge is further emphasized by the robust single-day net inflow of $473 million witnessed by Fidelity Wise Origin Bitcoin Fund (BATS: FBTC), effectively offsetting the $374 million net outflow from Grayscale's GBTC.
This trend reflects a broader shift in investor sentiment.
The total net asset value of Bitcoin spot ETFs has now surpassed $54 billion, and the historical cumulative net inflow ...