Before the approval of the Bitcoin spot ETF, there was hype about its use cases, which lured millions of fresh users and billions of dollars in inflow. Over the last few weeks, Grayscale’s ETF has been witnessing massive outflow.
The Bitcoin spot ETF (Exchange Traded Fund) has seen an inflow of $15.4 Million after a massive outflow in the past few weeks. The ETFs of Fidelity and BlackRock are riding high.
In the past 24 hours, IBIT’s spot ETF by BlackRock saw an intraday volume of $2.62 Billion, Grayscale (GBTC) $1.34 Billion, and FBTC (Fidelity) $1.26 Billion. Grayscale (GBTC) has $27.68 Billion of assets under management, and IBT has $15.58 Billion AUM.
The total intraday volume of the Bitcoin ETF market is $6.44 Billion, and the market capitalization is $76.46 Billion. Earlier this week, the ETF category saw a cumulative outflow of $887.6 Million, majorly from the Grayscale.
Around 11 institutions entered the race for the ETF in January 2024, and the approval of Bit
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