GBTC - Spot Bitcoin ETF Inflows Slip On Regulatory Banana Skins | Benzinga
Spot Bitcoin exchange-traded funds (ETFs) experienced net outflows on Friday, highlighting some investor caution amid ongoing price volatility.
What Happened: According to data from SoSoValue, total net outflows for Bitcoin spot ETFs reached $84.6581 million on May 10.
The Grayscale Bitcoin Trust (OTC:GBTC) alone saw an outflow of $103 million, highlighting a cautious or bearish sentiment among investors.
Conversely, BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) and Fidelity’s Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) reported inflows of $12.4363 million and $5.3039 million, respectively.
This mixed flow indicates a divergence in investor confidence across different funds, which could be attributed to the varied strategies and market perceptions surrounding each ETF.
The outflows from GBTC, in particular, are significant as they contribute to a broader discussion on the ...