Outflows from Grayscale’s Bitcoin fund slowed for the fifth day in a row, while Fidelity’s spot Bitcoin ETF saw one of its stronger inflow days since launch.
Fidelity’s spot Bitcoin exchange-traded fund (ETF) reportedly pulled in $208 million in daily inflows on Jan. 29, outstripping outflows from Grayscale Bitcoin Trust (GBTC) for the first time since its launch day.
According to provisional data from Farside Investors, Fidelity’s FBTC raked in $208 million in inflows on Monday, compared with the $192 million in outflows from GBTC — the lowest daily outflows outside of its re-launch, according to data from BitMEX Research.
The latest GBTC outflows mark a nearly 25% drop from $255 million on Jan. 26 and a 70% drop from the fund’s peak daily outflows of $641 million on Jan. 22.
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Source: https://cointelegraph.com/news/fidelity-bitcoin-etf-offsets-grayscale-gbtc-bleeding-in-shifting-tide