Grayscale Bitcoin Trust Records $63M Inflow, Ends 80-Day Streak Amid IBIT Competition

May 3, 2024, 10:09 PM

The Grayscale Bitcoin Trust (GBTC) experienced a significant shift in its financial activity, recording an inflow of $63 million. This marks the first time GBTC has seen inflows since the launch of Bitcoin ETFs on January 11, ending a streak of approximately 80 days of outflows. The inflow is notable as it occurred just as GBTC was at risk of losing its position as the largest Bitcoin ETF to a competitor, IBIT.