💰 $1.4B Inflows Into Spot Bitcoin ETF After First Two Trading Sessions🚀🌐

In a remarkable debut, Spot Bitcoin exchange-traded funds (ETFs) launched last Thursday, and the response has been nothing short of extraordinary! 📈💡 Within just two trading sessions, these ETFs have attracted a whopping $1.4 billion in total inflows, signaling a strong endorsement from investors.

📊 Key Highlights:

🚀 Rapid Adoption and Trading Frenzy:

Total inflows into Spot Bitcoin ETFs hit $1.4 billion, with an impressive 500,000 trades in the first two days.

Trading volumes soared to around $3.6 billion, underscoring the robust demand and enthusiasm in the market.

🔄 Grayscale's Shift and Net Inflows:

Grayscale's ETF, the Grayscale Bitcoin Trust (GBTC), saw an outflow of $579 million during the period.

Adjusting for GBTC outflows, the net total inflows across all spot Bitcoin ETFs amounted to a substantial $819 million.

📉 Reasons Behind GBTC Outflows:

GBTC outflows are linked to holders converting their shares after the U.S. SEC's approval of the ETF through a ruling change.

Some GBTC holders are switching to lower-fee options offered by other fund managers, such as BlackRock charging 0.25% compared to Grayscale's 1.50%.

🏦 Top Performers Among Spot Bitcoin ETFs:

BlackRock's iShares Bitcoin Trust led the pack with $497.7 million in total flows.

Fidelity Advantage Bitcoin ETF followed closely with $422.3 million, and Bitwise secured $237.9 million.

As Spot Bitcoin ETFs reshape the crypto landscape, it's crucial to stay informed! For the latest updates and insights, follow The Blockopedia.

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