Spot Bitcoin ETFs got a lot of money coming in. Grayscale’s Mini BTC Trust ETF got $191 million. At the same time, spot Ether ETFs saw market instability, and Grayscale’s ETH ETF had withdrawals that kept happening.
Five-figure sums of money were put into spot Bitcoin ETFs on August 1. Of this amount, $191.1 million went into Grayscale’s small BTC ETF. Bitwise’s BitB lost $20.7 million, Ark 21Shares’ ARKB lost $22.4 million, and Fidelity’s FBTC lost $48.4 million.
The 1.5% charge took $71.3 million out of Grayscale’s GBTC. Over $2 billion has been taken out of Grayscale’s Ethereum ETF (ETHE), with $78.8 million coming out. The value of the coin has gone up and down a lot.
When BTC fell below $63,000, huge amounts of money were lost. Bitcoin is worth $64,720 right now, which is an increase of 0.59% in the past 24 hours. People are optimistic about what will happen next because Microstrategy plans to launch a $2 billion stock offering to buy more Bitcoin.
Recently, Grayscale has introduced the Bitcoin Mini Trust, a cheaper alternative to the Grayscale Bitcoin Trust (GBTC). The trust, approved by the US SEC, is the cheapest Bitcoin ETP in the US with an expense ratio of 0.15%. Launched with 10% of Grayscale’s largest fund, the GBTC, the Trust outperformed newly launched Bitcoin ETFs from BlackRock and Fidelity.
