Bitcoin ETF’s Rally Ends in Grayscale’s Portfolio: Sequential Entries Begin (BTC)

  • Grayscale’s GBTC spot Bitcoin exchange-traded fund (ETF) has recorded net inflows for the second consecutive day, ending its exit streak.
  • Despite a cumulative net outflow of $17 billion since its conversion to a spot Bitcoin fund in January, GBTC currently manages approximately 292,217 BTC ($18.4 billion).
  • Meanwhile, 11 US-based spot Bitcoin ETFs added a total of $217.06 million in funds on Monday, with Fidelity’s FBTC leading net inflows with $99 million.

Grayscale’s GBTC Bitcoin ETF sees net inflows for the second day in a row, signaling a positive change in the crypto market.

Grayscale’s Bitcoin ETF Records Second Day of Net Inflows

After a 78-day net exit streak that ended last Friday with an additional $63 million, the fund indicated a positive change by drawing $4 million on Monday. Since its conversion to a spot Bitcoin fund in January, GBTC has experienced a cumulative net outflow of $17 billion.

Current Assets Under Management

Despite this, as reported on its website, it currently manages approximately 292,217 BTC ($18.4 billion), a drop from 619,220 BTC on January 11. On the other hand, 11 US-based spot Bitcoin ETFs added a total of $217.06 million in funds on Monday. Fidelity’s FBTC led net inflows with $99 million, while Ark Invest’s Bitcoin fund drew $76 million.

Other Bitcoin ETFs Performance

BlackRock’s IBIT fund, which recorded zero to negative flows last week, recorded an entry of $22 million on Monday. Invesco and Galaxy Digital’s BTCO also reported daily net inflows worth $11 million, and Bitwise, VanEck, and Franklin Templeton funds each achieved approximately $2 million in net inflows.

Conclusion

These funds continued the positive flow they regained last Friday, which was the first total net inflow since April 23. Last month, the first net monthly exit was recorded for US spot Bitcoin ETFs, and approximately $343.5 million was withdrawn from funds. However, the daily trading volume of these funds has decreased compared to their peaks in March. Last week, the total trading volume was approximately $11 billion, while over $32 billion in trading volume was recorded in the first week of March.

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