GBTC - Spot Bitcoin ETFs Clock $11M Net Inflows On Wednesday As Grayscale Shifts Focus To Spot Ether ETF | Benzinga
Spot Bitcoin ETFs saw modest inflows on May 8, with the $11.5409 million inflow into the Bitwise ETF (NYSE:BITB) being the only non-zero balance of the day.
What Happened: Notably, Grayscale’s GBTC (OTC:GBTC), BlackRock‘s iShares Bitcoin Trust (NASDAQ: IBIT), the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) and Ark’s ARKB (BATS: ARKB) reported neither inflows nor outflows on Wednesday.
The total net asset value of Bitcoin spot ETFs now stands at $51.504 billion, indicating robust investor interest and confidence in cryptocurrency as a viable asset class, according to data from SoSo Value.
In related developments, Grayscale Investments, a leading player in the cryptocurrency investment space, is shifting its focus towards enhancing its spot exchange-traded products, particularly its Ethereum trust. ...