Grayscale Bitcoin Trust (GBTC) has seen a big boost, attracting $191 million in the past month. This is happening while other Bitcoin spot ETFs are losing money.
Investors seem to trust Grayscale more, likely because it has been around for a long time and is working to become a spot Bitcoin ETF. This trust is drawing in more money.
Meanwhile, other Bitcoin spot ETFs are facing outflows. This might be due to market ups and downs, worries about rules, and new investment options. Investors may prefer the stability they see in Grayscale.
This trend shows that while newer ETFs are struggling, Grayscale’s solid reputation is helping it attract more investors, even with challenges in the market.
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As the crypto market changes, where people choose to put their money will keep shifting. But right now, Grayscale’s success shows that trust and reliability are key to attracting investment in Bitcoin ETFs.
The current trade price of Bitcoin is $64,336 & this price is 4% down over the last 7 days period.
Ethereum spot ETF market
On August 1, Ethereum ETFs saw net inflows of $26.7 million. BlackRock’s IBIT led with $89.6 million in inflows, while Grayscale ETHE faced outflows of $78.0 million. Despite this, Ethereum ETFs have seen a total outflow of $456.9 million.
The current trade price of Ethereum is $3,153 & this price is 3.23% down over the last 7 days period.
Greed & Fear Index
The current Crypto Fear & Greed Index is 57, which means market sentiments are still better for a better start for the bull run.
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Grayscale BTC Spot ETF Attracts $191 Million Inflow While Other Bitcoin ETFs See Outflows
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