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Grayscale Sees $804M Outflows, Hong Kong ETFs Gain $292M on Debut
May 3, 2024, 10:18 AM
U.S. Bitcoin ETFs experienced significant outflows, with a record single-day outflow reported. Grayscale's Bitcoin Trust (GBTC) alone saw outflows of $804 million this week, contributing to a total of $563 million in losses across various funds including BlackRock, Fidelity, and Ark. Despite these outflows, the Hong Kong market showed strong performance in its first week of trading Bitcoin and Ethereum ETFs, attracting $292 million in inflows on the first day. This marked a significant achievement, nearly reaching 30% of Bloomberg's two-year forecast of $1 billion in assets under management.
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