Net inflows into newly approved bitcoin exchange-traded funds (ETFs) amount to approximately 21,000 BTC or $894 million. BlackRock's iShares Bitcoin Trust leads with 16,362 BTC, followed by Fidelity's Wise Origin Bitcoin Fund with 12,112 BTC. Grayscale's Bitcoin Trust experienced sizable outflows.
The conversion of Grayscale's Bitcoin Trust (GBTC) from a closed-end fund to an ETF, along with a reduced management fee and no longer trading at a discount to net asset value, has led to selling by GBTC holders.