Sales of the Grayscale spot Bitcoin ETF gave way to purchases for the first time.
A significant event for the market, an influx for the first time in all time, for the first time in three months or 77 days of trading. All this time and until May 3, capital was only withdrawn from it. Let us remind you that this Bitcoin ETF has the highest commission.
As a result of trading on May 3, Bitcoin ETF from#Grayscalereceived an influx of +$63 million.
Their sales essentially partially closed the demand for ETFs #BlackRock,#Fidelityand other issuers. Provided flow from one cryptocurrency ETF to another. True, in recent weeks, when BlackRock, Fidelity and others were in no hurry to make purchases and even managed to sell out a little, Grayscale’s sales were one of the factors of pressure on the market.
Grayscale's balance dropped by more than 50% during three months of sales - they started with their trust balance of 621,000 BTC.
On April 10,#GrayscaleCEO Michael Sonnenshein assumed that the sales in their spot Bitcoin ETF would soon end.
We'll see next week if buying becomes a new tradition from Grayscale's Bitcoin ETF.
