Grayscale Bitcoin Mini Trust records $191 million inflows after soft debut
Key Takeaways
- Grayscale’s Bitcoin Mini Trust continued its strong performance on Thursday, attracting an additional $191 million in inflows.
- The Grayscale Bitcoin ETF has suffered over $19 billion in losses post-ETF conversion.
Share this article
Grayscale’s Bitcoin Mini Trust got off to a strong start after pulling in $191 million on Thursday, its second day of trading, data from Farside Investors shows. The surge marks a 960% uptick from its initial day’s $18 million.
The fund, operating under the BTC ticker, comes as part of Grayscale Investments’ ongoing efforts to attract investors with a low-cost option for gaining exposure to Bitcoin. With a 0.15% sponsor fee, Grayscale’s BTC is the cheapest spot Bitcoin exchange-traded fund (ETF) on the market.
The mini fund is also expected to alleviate selling pressure on the Grayscale Bitcoin Trust (GBTC) and capture a portion of GBTC’s capital outflows.
Thursday’s gain brings the total net inflows of the BTC to $209 million. According to updated data from Grayscale, its market value stands at around $1.7 billion.
In contrast, GBTC reported approximately $71 million in net outflows on Thursday. The fund’s total loss after its ETF conversion exceeded $19 billion.
Other competing ETFs, including Fidelity’s FBTC, Bitwise’s BITB, ARK Invest/21Shares’ ARKB, and VanEck’s HODL, also witnessed capital withdrawals.
Share this article
Go to Source
Author: Vivian Nguyen
