GBTC - Bitcoin Spot ETFs Record $108M Inflows While Ethereum ETF Potential Remains Uncertain | Benzinga
The cryptocurrency market has witnessed notable fund movements, particularly within Bitcoin (CRYPTO: BTC) and Ethereum (CRPYPTO: ETH) ETFs, as institutional interest fluctuates and regulatory developments unfold.
What Happened: On May 23, Bitcoin spot ETFs recorded a substantial net inflow of $108 million, marking its ninth consecutive day of positive inflows, according to data from SoSo Value.
This ongoing trend underscores growing confidence in Bitcoin among institutional investors.
Conversely, the Grayscale Bitcoin Trust (OTC:GBTC) experienced an outflow of $13.7209 million, indicating a potential shift in investor preference towards newer ETF offerings.
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) saw a significant inflow of $88.9516 million, while the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) garnered $19.1224 million, reflecting sustained interest in these products.