Bitcoin (BTC) Sparks Hope: Experiences First Increase in Months

• Grayscale, the operator of the largest Bitcoin ETF by asset value, has seen growth for the first time in months.
• According to Farside Investors data, the Grayscale Bitcoin Trust (GBTC) saw its first net cash inflow since it began trading as an ETF in January, with a net addition of $63 million on Friday.
• Despite the recent inflow, the total number of Bitcoins held in GBTC has dropped from over 600,000 to around 290,000, mainly due to the fund’s higher management fee compared to other funds.

Grayscale’s Bitcoin ETF sees growth for the first time in months, with a net cash inflow of $63 million, despite a significant drop in the total number of Bitcoins held in the fund.

Grayscale Bitcoin Trust Experiences Growth

Grayscale, the operator of the largest Bitcoin ETF by asset value, has experienced growth for the first time in months. According to data from Farside Investors, the Grayscale Bitcoin Trust (GBTC) saw a net cash inflow of $63 million on Friday. This marks the first time the fund has seen a net inflow since it began trading as an ETF in January.

Drop in Total Bitcoins Held in GBTC

Despite the recent inflow, the total number of Bitcoins held in GBTC has seen a significant drop. The fund, which was once an attractive option for those who did not want to invest directl... Read the full article for FREE at COINOTAG!