Ok here we go!
Bitcoin ETF Fund Flow Scorecard.
The Good, the Bad, and the Ugly.
The bad news
- Grayscale dumped a ton of bitcoin
- For the 8th day in a row, GBTC transferred an additional 18,500 Bitcoin to Coinbase.
The good news
- The majority of the sell-off involved FTX, which has now completed its sales, offloading around 2.5 million shares daily for 8 days.
- Additional positive news: Despite the GBTC (Grayscale Bitcoin Trust) sell-off, there has been a net inflow of $1.1 billion, equivalent to 28,000 Bitcoin today.
- Growth observed in the FBTC (Fidelity Bitcoin Fund) - faster than Blackrock.
The ugly news:
It’s a paper Bitcoin promise. Avoid and stack sats to self custody. Preferably cold storage for large amounts!