The post Grayscale Bitcoin Mini Trust Is Showing Positive Signs appeared on BitcoinEthereumNews.com.

Key Points: Grayscale Bitcoin Mini Trust saw $51 million in inflows on August 23, boosting its assets under management to over $2 billion. U.S. spot Bitcoin ETFs, including Grayscale’s and BlackRock’s IBIT, have collectively recorded over $500 million in net inflows over the past week. Grayscale Bitcoin Mini Trust has made quite a comeback, having as much as $51 million in inflows as of August 23. Read more: Spot Ethereum ETFs Gain $24M, Grayscale’s ETHE Sees Negative Flows Grayscale Bitcoin Mini Trust’s Assets Exceed $2 Billion Grayscale Bitcoin Mini Trust‘s AUM surged past $2 billion to approximately $2.03 billion, holding about 31.9 million BTC and 359.6 million shares outstanding. It has lower fees and smaller denominations than the Grayscale Bitcoin Trust it is intended to replace. Large outflows took place in the original Grayscale Bitcoin Trust after its conversion into a spot Bitcoin ETF following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin ETFs in January. Similarly, Grayscale Ethereum Mini Trust has also continued to register the same exponential growth, and its AUM now crosses the billion-dollar mark to sit approximately at $1.01 billion. It is holding nearly 367,562 ETH, and the shares outstanding are 390.1 million. Spot Bitcoin ETFs Are Witnessing a Critical Comeback The ETF market for Bitcoin has been resilient, with continued inflows into Grayscale funds and rivals, such as BlackRock’s IBIT. More than $500 million of net inflows into U.S. spot Bitcoin ETFs have occurred in the last five days, many think, further evidencing interest from investors despite market fluctuations. Bitcoin is currently trading at $64,000 with prospects of a strong August finish. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. Visited 1 times, 1…

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Filed under: News - @ August 24, 2024 5:22 am