Grayscale Bitcoin trust sees first inflows since US ETFs were approved

The world’s largest cryptocurrency investment vehicle saw a net inflow of investor money for the first time since US exchange-traded funds holding the digital asset were allowed in January. The $18.1 billion Grayscale Bitcoin Trust, or

into new, lower cost funds offered by companies such as BlackRock and Fidelity. Now that the tide has turned from outflows to inflows, I think moving forward it’s gonna be harder to predict what direction the flows will go,” said Amrita Nandakumar, president of Vident Investment Advisory. “I’ll be curious to see how closely that’s tied to the price to Bitcoin or how closely it’s tied to what other issuers of Bitcoin ETFs do to try to attract Grayscale investors.” A spokesperson for Grayscale didn’t immediately respond to a request for comment.

Source: Digital Coin News (digitalcoinnews.net)

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