Grayscale's GBTC spot Bitcoin exchange-traded fund (ETF) recorded net inflows for the second day in a row, according to SosoValue data.
Grayscale's Bitcoin ETF Sees Second Day of Net Inflows
The fund withdrew $4 million on Monday, marking a positive shift after a 78-day streak of net outflows that ended last Friday with an addition of $63 million.
Since converting to a spot Bitcoin fund in January, GBTC has experienced cumulative net outflows of $17 billion.
Despite this, it currently manages approximately 292,217 BTC ($18.4 billion) in assets, a decrease from 619,220 BTC on January 11, as reported on its website.
On the other hand, 11 US-based spot Bitcoin ETFs added funds worth a total of $217.06 million on Monday. Fidelity's FBTC led net inflows with $99 million, while Ark Invest's Bitcoin fund attracted $76 million.
BlackRock's IBIT fund, which recorded zero to negative flows last week, recorded an inflow of $22 million on Monday.
Invesco and Galaxy Digital's BTCO also reported daily net inflows of $11 million, and Bitwise, VanEck and Franklin Templeton funds had net inflows of around $2 million each.
These funds maintained the positive flow they regained last Friday, the first total net inflow since April 23. Last month, the first net monthly outflow was recorded for US spot Bitcoin ETFs, with approximately $343.5 million removed from the funds.
However, daily trading volume for these funds has decreased compared to their peaks in March. While the total transaction volume last week was approximately 11 billion dollars, a transaction volume of over 32 billion dollars was recorded in the first week of March.
*This is not investment advice.
