Welcome to Extreme Investor Network, where we bring you the latest insights and updates on the Stock Market, trading, and all things Wall Street. Today, we’re diving into the world of Bitcoin ETFs and the recent trends in the market.
Recent data from SoSoValue has revealed some interesting trends in the Bitcoin ETF space. Grayscale’s GBTC, which had been experiencing net outflows since its conversion in January, saw a surprise daily net inflow of $4.64 million. Similarly, Valkyrie’s bitcoin ETF saw inflows of $18.5 million, along with single-digit inflows from Bitwise, Franklin Templeton, Invesco, and Galaxy Digital.
These back-to-back net inflows coincide with Wall Street’s first quarter 13F reporting season, where major financial players disclosed their stakes in spot bitcoin funds. The numbers turned out to be greater than some had anticipated, with IBIT reporting 414 holders in its first 13F season.
Some notable disclosures include Morgan Stanley holding spot bitcoin ETFs worth over $270 million, Millennium Management with a staggering stake of $1.94 billion across five bitcoin funds, and the State of Wisconsin Investment Board revealing holdings of $163 million in BlackRock and Grayscale’s funds.
Overall, the 11 spot bitcoin ETFs in the U.S. have accumulated a total of $12.40 billion worth of net inflows, according to SoSoValue data. Despite these inflows, trading volume on the ETFs remains below its peak level in March, as reported by The Block’s data dashboard.
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