GBTC records lowest single-day net withdrawal since conversion to Spot ETF.
According to BlockBeats, data from Farside Investors on April 11 indicates that the Grayscale Bitcoin Fund (GBTC) recorded just a single net outflow of $17.5 million. This marks the lowest single net drawdown since converting to a direct Exchange Traded Fund (ETF).
Although only Fidelity’s FBTC and ARK’s ARKB released their data during the day, the total net inflow into the U.S. Bitcoin Direct ETF was recorded at $14.1 million. This data shows a shift in investment behavior, with more funds flowing into Bitcoin direct ETFs than net withdrawals from GBTC.
The conversion of GBTC into a live ETF has been a significant event in the cryptocurrency market, and these latest numbers provide insight into the change in investment dynamics in the sector. The decrease in net withdrawals from GBTC and net inflows into Bitcoin direct ETFs shows growing interest and confidence in these investment vehicles.
According to Binance News#ETFbitcoin
