Bitcoin shares are publicly traded for the first time.
The recent sight of ETF outflow aligns with Bitcoin’s downward trajectory. The cryptocurrency lost 13% of its worth over the past week.
Spot Bitcoin exchange-traded funds have seen steady trading volumes in April after reaching a peak in early March, maintaining solid activity around $215 billion.
GBTC’s decline coincides with a recent downturn in the crypto market, resulting in Bitcoin price falling drastically.
BlackRock has started heavy advertising for its IBIT Bitcoin ETF on Bloomberg’s home page to leverage its position in the current market momentum.
Grayscale CEO is confident of more investors adopting Bitcoin ETF especially after the US SEC approves Grayscale Bitcoin Mini Trust with lower sponsor fees.
The dwindling interest in spot Bitcoin ETF may have been caused by a drop in BTC price from its ATH of $73,750 to $67,000.
According to the Ripple CEO, Bitcoin ETF market and the network’s upcoming halving will spike the crypto market by 100% this year.
Grayscale Investments, a subsidiary of Digital Currency Group (DCG), announced on Thursday that it has henceforth dropped ADA and ATOM from its Grayscale Digital Large Cup Fund.
While the Bitcoin investment products registered strong inflows, the Ethereum products registered their fourht consecutive week of outflows.
Despite the uncertainty regarding Ethereum ETFs, the overall projection for Bitcoin is favorable.