However, Grayscale clients have largely finished cashing out, and money is now rapidly entering Bitcoin ETFs from other issuers.
Wall Street titan BlackRock’s iShares Bitcoin Trust has received the majority of inflows, with over $22.4 billion. Following its conversion, a significant amount of capital flowed out of the product as investors sought cheaper ETFs or cashed out their gains. Bloomberg ETF analyst Eric Balchunas noted on X (formerly Twitter) that gold ETFs took five years to reach the same overall flows as the Bitcoin ETFs have achieved in just 10 months.
Bitcoin exchange-traded funds (ETFs) have received total net inflows of $20.2 billion since their approval in January, highlighting the growing popularity of the cryptocurrency, reports Farside Investors. The inflows exceed the $20 billion that left Grayscale’s fund after its conversion in January.
Grayscale’s investment product, which previously operated as a closed-end fund, had made it difficult for investors to redeem shares.
