#Write2earn #Grayscale #Bitcoin Trust Sees Influx of Investments Amid Growing #ETF Competition #BitcoinETF $BTC

According to Farside Investors, the Grayscale Bitcoin Trust (GBTC), the leading bitcoin ETF in terms of assets, experienced a net inflow of new investments from investors, marking the first daily increase since its launch in January.

On Friday, a net sum of $63 million was added to the trust, as reported by Farside.

Historically, the Grayscale product has been the primary traditional investment option for individuals seeking exposure to bitcoin (BTC) without directly buying the cryptocurrency. However, it faced competition in January when it transitioned into a more accessible ETF format, coinciding with the launch of nine competing spot bitcoin ETFs.

GBTC's comparatively higher fees led investors to withdraw billions of dollars from the trust, resulting in a reduction in its bitcoin holdings from over 600,000 to around 290,000 bitcoins.

While the Friday influx of funds marks a reversal in the trend of net GBTC withdrawals, BlackRock's iShares Bitcoin Trust (IBIT) is emerging as a formidable challenger for the title of the largest bitcoin ETF.

GBTC currently holds $18.1 billion in assets, slightly ahead of IBIT's $16.9 billion. IBIT, now in second place, started from scratch in January, while GBTC began with over $26 billion in assets.