GBTC

The post Grayscale Unveils Crucial GBTC Spinoff Update appeared first on Coinpedia Fintech News Grayscale has unveiled an update regarding the Grayscale Bitcoin Trust (GBTC) spinoff to a mini Trust. The event has been scheduled to take place on July 31. Senior Bloomberg ETF Analyst James Seyffart restated the news and also noted that both the Bitcoin and Ethereum mini trusts will go live before the end of this month. In March, the spot Bitcoin ETF issuer filed with the…

The post Bitcoin ETF Records A Positive Inflow For The 5th Consecutive Day, GBTC Continues Losing Momentum! appeared first on Coinpedia Fintech News The BitcoinETF witnessed an inflow of $78.9 Million yesterday, resulting in it recording a positive inflow for the fifth consecutive day. BlackRock’s “IBIT” has recorded the highest inflow with $72.1 Million followed by Fidelity’s “FBTC” with $32.7 Million. However, Grayscale’s “GBTC” continues to record its outflow streak for the third day with $37.7 Million.

In a notable shift in the crypto market, BlackRock’s iShares Bitcoin Trust (IBIT) has overtaken Grayscale Bitcoin Trust (GBTC) to become the world’s largest spot Bitcoin exchange-traded fund (ETF). Recent data from SoSoValue shows that IBIT now holds $19.68 billion in Bitcoin (BTC), slightly edging out GBTC’s $19.65 billion. How Grayscale’s GBTC Lost Its Top Spot to BlackRock’s IBIT? This milestone, occurring 96 trading days after the approval of spot Bitcoin ETFs, marks the beginning of a significant era for…

Morgan Stanley invested $269.9 million in Grayscale’s GBTC, as disclosed in their first quarter 13F filing. This makes Morgan Stanley one of the top holders of GBTC, second only to Susquehanna International Group, with a $1.0 billion investment. Morgan Stanley Becomes a Major Player in Bitcoin ETFs The allocations were reported during the first-quarter 13F filing deadline, marking the end of the initial period for investors to buy most spot Bitcoin ETFs. Bitwise CIO Matt Hougan highlighted the importance of…

Grayscale’s spot Bitcoin ETF – GBTC – recorded its second consecutive day of net inflows on Monday, attracting $4 million into the trust. In doing so, GBTC shattered the four-month streak of outflows. This follows Friday’s reversal of a 78-day net outflow trend, with an additional $63 million. Since its transition to a spot Bitcoin trust in January, GBTC has seen a total net outflow of $17 billion. Currently, the fund manages approximately 292,217 BTC (valued at $18.4 billion), down…

Grayscale experiences a record prolonged outflow caused by higher fees forcing investors to migrate to rival ETFs.  Grayscale CEO assures a possible fee reduction as the market matures, and claims the Fund has started to reach a little equilibrium.  The tide of assets fleeing the Grayscale’s Bitcoin Trust (GBTC) Fund sets an unprecedented prolonged record of 72 days, appearing to be in stark contrast to the nine other approved spot Bitcoin ETFs. This has been the case since the conversion…

BlackRock IBIT is closing the gap against Grayscale Investments in terms of Bitcoin holdings. Spot Bitcoin ETF momentum is growing with a visible impact on BTC price. The competition amongst issuers of the spot Bitcoin Exchange-Traded Fund fighting for Bitcoin dominance is intensifying as BlackRock inc’s iShares Bitcoin Trust (IBIT) gets close to being equal to Grayscale’s Bitcoin Trust (GBTC).  Recent data from Bitcoin ETF tracker Apollo reveals that the amount of Bitcoin held by IBIT is getting close to…

Bitcoin’s price slipped to and under $70,000 yesterday, but the asset has reclaimed that level despite the growing outflows from Grayscale’s BTC ETF. Most altcoins are slightly in the red today, led by losses from TON, NEAR, ARB, FIL, APT, and WIF. BTC Back to $71K It was just a little over a week ago when the price of primary cryptocurrency tumbled hard amid reports that the US government plans to sell more BTC. The asset had fallen to $64,500…

Grayscale Bitcoin Trust (GBTC) recorded its lowest net outflow of $17.5 million for the first time since its conversion to a spot Bitcoin exchange-traded fund (ETF) on Wednesday, according to Farside Investors data. This follows a statement by Grayscale Investments CEO Michael Sonnenshein that the company’s fund is close to a point of “equilibrium” regarding its outflows. GBTC Outflows Slow Down According to data from Farside, GBTC experienced combined net outflows exceeding $450 million on Monday and Tuesday, contributing to…