SOL - Bitcoin Spot ETFs Hit Speed Bump As Grayscale Outflows Reach $302M In A Day But 2 Firms Enjoy Inflows | Benzinga
Bitcoin spot ETFs recorded a net outflow of $85.84 million on April 1, amid a broader slowdown in the digital asset investment space.
What Happened: Data from SoSoValue shows a mixed picture for individual Bitcoin spot ETFs.
Grayscale’s industry-leading GBTC (OTC:GBTC) fund experienced a significant single-day outflow of $302 million. Competitors like BlackRock‘s (NASDAQ:IBIT) and Fidelity‘s (BATS:FBTC) saw inflows of $165 million and $43.99 million respectively.
Despite the recent outflow, Bitcoin spot ETFs have seen a cumulative net inflow of over $12 billion year-to-date.
Shifting Market Sentiment: Meanwhile, a Coinshares report highlights a recovery in investor sentiment across digital asset investment products last week, with inflows totaling $862 million.
This follows a record outflow of $931 million the previous week.
While this suggests a return of confidence, ...