Grayscale’s GBTC spot Bitcoin ETF rakes in $4M

The GBTC spot exchange-traded fund belonging to Grayscale managed to rake in $4 million within the converted trust. This was the second inflow. This is after 78 days of the GBTC ETF net outflows when it came in for a further .$63 million.

From the time GBTC converted into the spot bitcoin trust earlier this year, it has been exposed to a collective net outflow amounting to 17 billion. It controls roughly 292.217 BTC, valued at $18.4 billion in assets, a drop from 619.220 BTC.  

In the meantime, the eleven US spot bitcoin ETFs added $217.6 million in funds. Fidelity’s FBTC led the list of net inflows with $99 million, while Ark Invest’s Bitcoin fund raked in $76 million.  

BlackRock’s IBIT fund, which had no flows, received an inflow of $22 million. Invesco and Galaxy Digital’s BTCO received $11 million in net inflows. Bitwise, VanEck, and Franklin Templeton received net inflows of $2 million. 

Following the 23rd of April, there was a continuous stream of net inflows. In the same month, the net outflow of the US spot bitcoin ETFs, with $343.5 million being drawn out of the funds. 

The day-to-day volume of trade involving the funds has fallen from its peak in March. The previous week, the volume of trade was roughly $11 billion, compared to $32 billion in March. Bitcoin trading fell by 1.17% and stood at $63,152.