GBTC - Bitcoin Spot ETFs Reach Record $14.9B Year-To-Date Inflows On Tuesday | Benzinga
Bitcoin spot exchange-traded funds (ETFs) continued their impressive run, recording a net inflow of $45.1432 million on May 28.
What Happened: This marks the eleventh consecutive day of net inflows for these investment vehicles, highlighting growing investor interest in the world’s leading cryptocurrency, according to data from SoSo Value.
While the overall figure is significant, a closer look reveals a shift in investor preference within the Bitcoin ETF landscape.
Grayscale‘s Bitcoin Trust (OTC:GBTC), the first and once-dominant Bitcoin investment product, witnessed an outflow of $105 million.
This stands in contrast to the inflows observed in newer spot ETFs like BlackRock‘s iShares Bitcoin Trust (NASDAQ:IBIT) ($103 million) and Fidelity‘s Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) ($34.3451 million).
This trend aligns with a broader report from digital asset investment firm Coinshares, ...