Grayscale Bitcoin Trust Gains 5%, Sees Inflows as HK ETFs Hit HK$2B AUM

May 6, 2024, 09:30 PM

The Bitcoin ETF market has seen significant activity recently, with Grayscale's Bitcoin Trust experiencing its first inflows since January, marking a notable shift in investor sentiment. This change comes amidst a broader trend where all 11 spot Bitcoin ETFs reported inflows for the first time since their launch in January. Specifically, Grayscale recorded a second day of inflows totaling $3.9 million, following a substantial $63 million the previous day, and its shares jumped 5% in premarket trading. Concurrently, Hong Kong's newly launched spot Bitcoin ETFs attracted $262 million in assets under management, with $2 billion AUM in their debut week and $250 million net inflows in just three days. This surge in ETF activity coincides with increased regulatory filings, market interest, and reports that Australia is considering launching Bitcoin ETFs, suggesting a potentially bullish future for Bitcoin investments.