BitcoinWarrior

News and Education

Spot Bitcoin ETFs Record $123M Net Inflow Amid Slowing GBTC Outflows

Bitcoin spot exchange-traded funds (ETFs) saw a $123 million net inflow on Wednesday, a reversal from Monday’s outflows less than two weeks ahead of the halving event. What Happened: Grayscale’s Bitcoin Investment Trust (OTC:GBTC) saw a net outflow of $17.47 million, according to data from SoSoValue, a record-low number for the fund. Whether the outflow marks the end of a trend remains to be seen. Grayscale CEO Michael Sonnenshein had predicted that outflows would slow down, saying “Some of the selling connected to settlements of bankrupt crypto companies like FTX is largely behind us,” in a R…