$1.4 Billion Floods Into New Spot BTC Funds

The drums of institutional FOMO beat loudly after spot Bitcoin ETFs unlocked money vaults this week!

According to ETF analyst Eric Balchunas, nearly $1.4 billion in inflows blasted into various funds in just two trading days!

Adding 500,000 new traders along the way as volumes exploded to $3.6 billion! An impressive start by any metric.

Yet early winners and losers emerged from the chaos with Grayscale experiencing significant outflows. After adjusting for a $579 million drainage, the net measured $819 million.

The drainage highlighted some whales upgrading to newer offerings after being locked into pricey Grayscale products. Why stick with a 1.5% fee ratio when BlackRock charges just 0.25%?