Bitcoin ETF – Coins
A day ahead of the much-anticipated halving, spot bitcoin ETFs were surging along with the price of the underlying asset, although flows to the three-month old products have dipped into negative territory for the past four days.
BlackRock’s iShares Bitcoin Trust (IBIT) and the Fidelity Wise Origin Bitcoin Trust (FBTC), which have generated the most inflows since 10 funds began trading on January 11, were recently up about 3% and nearly 4%, respectively. The Grayscale Bitcoin Trust (GBTC), which has the most assets under management, also recently rose almost 4%, although the fund continued to hemorrhage flows.
On Wednesday, GBTC suffered net outflows of $133 million and has accumulated more than $16.6 billion in outflows since its conversion from a trust, according to the research arm of crypto exchange BitMEX. As of the close of U.S. trading on Wednesday, the…
