GBTC - Spot Bitcoin ETFs See $100M Inflows On Wednesday Amid Institutional Adoption | Benzinga
Bitcoin spot exchange-traded funds (ETFs) continued to attract investor interest on May 14, with total net inflows into these funds reached $100.5 million, highlighting ongoing demand for direct exposure to Bitcoin (CRYPTO: BTC).
What Happened: This positive inflow comes despite a single-day net outflow of $50.93 million from Grayscale‘s industry-leading Bitcoin Investment Trust (OTC:GBTC), according to data from SoSoValue.
However, this outflow was offset by a significant net inflow of $133 million into Ark Invest and 21Shares‘ (BATS:ARKB) ETF. The total net asset value of all Bitcoin spot ETFs currently sits at $50.987 billion.
Institutional Interest ...