Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»BITCOIN NEWS»Grayscale Spot Bitcoin ETF turns positive and sees inflows for the first time after $17.5 billion outflow.
BITCOIN NEWS

Grayscale Spot Bitcoin ETF turns positive and sees inflows for the first time after $17.5 billion outflow.

By Crypto FlexsMay 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Grayscale Spot Bitcoin ETF turns positive and sees inflows for the first time after .5 billion outflow.
Share
Facebook Twitter LinkedIn Pinterest Email

In a somewhat shocking development, Grayscale Bitcoin Trust (GBTC) The first influx was recorded after the sighting. Significant daily outflow After launch.

Grayscale Bitcoin ​ETF records inflows of over $60 million

Grayscale’s Spot Bitcoin ​​ETF has finally broken its 82-day streak of outflows since its launch on January 11, 2024. GBTC recorded its first inflow on May 3 after witnessing outflows of approximately $17.46 billion.

According to data At investment management firm Farside, Grayscale’s Spot Bitcoin ETF attracted approximately $63 million in inflows, along with other Bitcoin ETFs such as: BlackRock’s iShares Bitcoin Trust (IBIT) $12.7 million came in.

The total inflows recorded that day amounted to approximately $378.3 million. Franklin Templeton’s Spot Bitcoin ​​ETFEZBC leads with the highest inflows of $102.6 million.

Bloomberg senior analyst and ETF expert Eric Balchunas expressed disbelief about Grayscale’s turnaround Advert It is said that thorough verification had to be done to confirm unexpected developments.

Moreover, the surprising inflows come after the recent collective outflow of 10 US spot Bitcoin ETFs, including BlackRock’s IBIT. It recorded a massive outflow of over $563.7 million. In one day. These leaks were likely triggered by: Federal Reserve Bank (FED) The decision to leave interest rates unchanged has caused a broader downturn in cryptocurrency markets.

BTC also experienced significant declines around the same time, but the cryptocurrency is currently trading at $63,175, up 6.36% in the last 24 hours and above the $60,000 support level, according to CoinMarketCap.

Reasons for large-scale outflow of GBTC

Grayscale recorded its first record influx following the experience. Daily outflows worth hundreds of millions of dollars Since its founding. The asset management firm’s Spot Bitcoin ETF also experienced its highest outflow on February 29, with approximately $589.9 million.

Various factors have contributed to GBTC’s daily outflows, including: Huge management fee of 1.5% per year. Compared to all 12 spot Bitcoin ​​ETFs in the United States (US), Grayscale has the most expensive spot Bitcoin ​​ETF fees, surpassing BlackRock, the second largest BTC ETF provider by average annual management performance . Fee 0.25%.

part grayscale leak This was also the result of reported selling relationships with insolvent cryptocurrency exchanges, FTX, and other non-existent cryptocurrency companies. FTX sold approx. GBTC worth $1 billion Genesis, a cryptocurrency brokerage for institutional investors, purchased approximately 36 million shares of GBTC stock. 32,041 BTC It is worth more than $2.1 billion.

BTC price now sitting above $63,000 | Source: BTCUSD on Tradingview.com

Featured image from Forkast News, chart from Tradingview.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Cardano founder says Chainlink quotes ‘ridiculous price’ to them.

September 3, 2025

The US government posts GDP data on Bitcoin block chain.

August 28, 2025

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025
Add A Comment

Comments are closed.

Recent Posts

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025

NOWPayments To Participate In SiGMA Europe Rome 2025

September 4, 2025

Web3 Enabler Announces Blockchain Payments V3.1 At Northeast Dreamin In Boston

September 4, 2025

Is XRP The Dark Horse Of The Cryptocurrency World? Earn 652 XRP Daily Using Invro Mining’s Smart Contract

September 4, 2025

TRX Was Early, ETH Set The Standard, BNB Built The Scale- Now SYC Brings The Next Evolution

September 4, 2025

Sign Up And Receive $500 Bonus, Ushering In A New Era Of Compliant And Secure Crypto Investment

September 4, 2025

Why experts say that 99%of the traders are wrong

September 4, 2025

ChainUp Named Double Finalist At Thomson Reuters’ ALB Pan-Asian Regulatory Awards 2025

September 4, 2025

Integrated security classes can accelerate the adoption of institutional passwords.

September 4, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

The cryptocurrency is falling when the tokens and stocks connected to Trump are under pressure.

September 5, 2025

Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

September 5, 2025

Coindesk July 2025 Report: Stablecoins and CBDC

September 5, 2025
Most Popular

Spreadsheets for agents, creation and collaboration UI/UX exploration

August 11, 2024

5 questions about SCENE: Gala Marija Vrbanic

February 4, 2024

Tornado Cache developer Alexey Pertsev found guilty in Dutch court

May 14, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.