Grayscale ETF Records First Day of Inflows Ever

The Grayscale Bitcoin Trust , the largest Bitcoin ETF by assets, experienced a net inflow of new money from investors for the first time since its debut in January, according toGBTC has long been a popular financial instrument for investing in Bitcoin without directly purchasing the cryptocurrency. However, it faced increased competition in January when it was converted into an easier-to-trade ETF, coinciding with the launch of nine rival spot Bitcoin ETFs.

Due to its relatively higher fees, investors withdrew billions of dollars from GBTC, resulting in a streak of 78 consecutive days of outflows that ended last Friday. Currently, GBTC holds $18.1 billion in assets, while IBIT, which now ranks second, started from zero in January and currently holds $16.9 billion. GBTC's assets have declined from over $26 billion previously., the Bitcoin spot ETF experienced a total net inflow of $378 million on May 3, marking the first net inflow after seven consecutive days of net outflows. Additionally, the Grayscale ETF GBTC saw a rare single-day inflow of $63.0112 million.

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