Bitcoin (BTCUSD)

[ap17]

nutshell:

GRAYSCALE RECORDS AN INFLOW? 🤔
BREAKING: Grayscale’s GBTC stops bleeding: First inflow since launch

bitcoin
Is this some kind of miracle?

For the first time since launch, Grayscale’s GBTC has recorded an inflow.

After 4 months of continual outflows and ~$17.5 billion leaving the fund, Grayscale recorded a net inflow of $63 million.

Franklin Templeton also recorded their largest ever inflow of $60.9 million.

Here’s the breakdown for yesterday’s flows:

Fidelity (FBTC): $102.6 million 🥇

Grayscale (GBTC): $63 million 🥈

Franklin Templeton (EZBC): $60.9 million 🥉

ETF flows
With all issuers recording inflows, yesterday saw $378.3 million flowing into the Bitcoin ETFs.

Breaking the streak of 7 straight outflow days.

Even ETF analyst Eric Balchunas couldn’t believe Grayscale actually recorded an inflow:

Eric tweet
As a result of these inflows, Bitcoins price jumped back above $60,000.

At the time of writing Bitcoin is hovering around $63,000.

Clearly inflows from the ETFs and Bitcoins price are heavily correlated…

Bitcoin
We’re so back. 😎