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The Grayscale Bitcoin Trust ETF finally drew more new cash than it lost, snapping an 11-week streak with a positive gain of $63 million, according to CoinGlass.
GBTC has been seen so many investors cashing out since competing spot Bitcoin ETFs were approved in January, its outflows alone often weighed down the entire nascent space.
“Holy crap $GBTC had inflows today,” tweeted Bloomberg ETF analyst Eric Balchunas. “Their 80 day-ish streak is finally over. I had to run my eyes and double check the data but it’s true.”
Holy crap $GBTC had inflows today. Their 80 day-ish streak is finally over. I had to run my eyes and double check the data but it’s true. https://t.co/I4TTU4q5Q1
— Eric Balchunas (@EricBalchunas) May 3, 2024
He added: “On a scale of 1-10 how ‘we’re so back’ is this?”
This is a developing story and is being updated as information warrants.
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