Grayscale’s Bitcoin ETF (BTC) Rebounds, Attracting $63 Million Investment

• Grayscale Bitcoin Trust ETF (GBTC) breaks an 11-week streak of outflows with a positive gain of $63 million, according to CoinGlass.
• GBTC has seen numerous investors cashing out since competing spot Bitcoin ETFs were approved in January.
• Bloomberg ETF analyst Eric Balchunas tweets about the surprising inflow, sparking discussions about the future of GBTC.

Grayscale Bitcoin Trust ETF (GBTC) sees a surprising inflow, breaking an 11-week streak of outflows. This development sparks discussions about the future of GBTC and the crypto market.

GBTC Breaks 11-Week Streak of Outflows

The Grayscale Bitcoin Trust ETF, a popular investment vehicle for Bitcoin, has finally seen more new cash than it lost, snapping an 11-week streak with a positive gain of $63 million, according to data from CoinGlass. This comes as a surprise as GBTC has seen many investors cashing out since competing spot Bitcoin ETFs were approved in January.

Reactions to GBTC’s Surprising Inflow

Bloomberg ETF analyst Eric Balchunas took to Twitter to express his surprise at this development. “Holy crap $GBTC had inflows today. Their 80 day-ish streak is f... Read the full article for FREE at COINOTAG!