Grayscale’s itcoin">Bitcoin Trust (GBTC) has bounced back after experiencing a prolonged stretch of outflows. For nearly four months, from mid-January to early May, GBTC saw a consistent stream of redemptions totaling over $17.5 billion in withdrawals. However, this trend has recently reversed, with GBTC recording two consecutive days of inflows on May 3rd ($63 million) and May 6th ($3.9 million).
While GBTC faced significant outflows, the broader U.S. spot itcoin">Bitcoin ETF market has maintained a positive net balance. BlackRock’s iShares itcoin">Bitcoin Trust has been the biggest beneficiary, accumulating $15.5 billion in inflows. Other major players like Fidelity, ARK Invest, and Bitwise have also seen substantial inflows, contributing to a collective $11.8 billion influx into spot itcoin">Bitcoin ETFs.
Concurrently, the SEC has postponed its decision on approving or denying spot Ether ETF applications from firms like BlackRock, Grayscale, and Invesco until July. This delay allows more time for the regulator to evaluate the proposals and address any concerns raised.
As crypto asset management evolves, market participants will keenly observe GBTC’s resurgence and the SEC’s stance on spot Ether ETFs, seeking opportunities amidst the changing landscape.
