GBTC - Spot Bitcoin ETFs Parry $124M Grayscale Outflow Notch $91M Net Inflows On Thursday | Benzinga
Net inflows into Bitcoin spot ETFs reached a notable high on Thursday, at $91.27 million, led by a substantial injection into BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT), which alone accounted for approximately $192 million.
What Happened: This influx contrasts sharply with the Grayscale Bitcoin Trust (OTC:GBTC), which experienced a net outflow of $124 million, underscoring a shifting investor preference within digital asset funds, according to data from SoSoValue.
While IBIT enjoyed record inflows, the Grayscale Bitcoin Trust faced a steep decline in holdings.
Analysts suggest that investors might be favoring ETFs that reflect current Bitcoin prices over trusts like GBTC, which do not allow for direct redemption into Bitcoin and ...