Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

Bitcoin (BTC) remains steady, trading <a href="https://coinmarketcap.com/currencies/bitcoin/" target="_blank" rel="noreferrer noopener" data-wpel-link="external">above $70,670</a>, while money continues to move out of the Grayscale Bitcoin Trust (GBTC).&nbsp; 
About $124.9 million left GBTC, contrasting with $4.6 million flowing into Fidelity’s FBTC, $11.1 million into Bitwise’s BITB, and out of all BlackRock’s Bitcoin ETF (IBIT) records $192 million worth of inflows. Bitcoin ETFs collectively saw $227.9 million exit this week. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/UKpatb03FSjC2PDbTsw73lofaHKqfj4uJLdBuDpkMfHQUfBpo1H8ivLVB0PIo1ypc5PMda5HO18jm1kmqZeCGTwrcsvQI403AXWD5X0CizRsP63wgzeUt6aWbc4Swz46xy1RufidY5IZryTtFvo7Qhw" alt="">
</figure> 
Image Source: <a href="https://checkonchain.com/btconchain/tradfi/tradfi_btc_etf_aum_0/tradfi_btc_etf_aum_0_light.html" target="_blank" rel="noreferrer noopener" data-wpel-link="external">CheckonChain</a> (GBTC outflows in a week) 
Some think GBTC outflows push BTC prices down, but others disagree, noting GBTC’s higher fees naturally lead to outflows. Traders foresee Bitcoin stability in April, with predictions on Polymarket suggesting a 60% chance of BTC reaching $75,000 and a 32% chance of hitting $80,000 by month’s end. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/04/11/grayscale-bitcoin-trust-outflows-hit-record-low-of-17-5m/" target="_blank" rel="noreferrer noopener" data-wpel-link="internal">Grayscale Bitcoin Trust Outflows Hit Record Low of $17.5M</a> 
</blockquote>

Bitcoin Holds Above $70,000 as GBTC Outflows Continue

The Crypto Times

Other articles published on Apr 12, 2024

Trader hits $6M pay day after spending $8K on Ethereum memecoin

Tapbit Launches Global Partner Program: Unlocking Opportunities For Web3 Enthusiasts & TOKEN2049 ...

BlastUP (BLP) Surges in Popularity, Outperforming Dogecoin (DOGE) and Pepe (PEPE): Here Is Why

MarginFi outflows $190M as CEO rage quits amid token controversy

99Bitcoins Launches Learn-To-Earn Presale and Raises $150K On First Day

ARK Development Report - April 12, 2024

Join our free newsletter for daily crypto updates!