BlackRock’s IBIT became the largest spot bitcoin fund in terms of net asset value, overtaking Grayscale’s GBTC.
U.S. spot bitcoin exchange-traded funds logged a total daily net inflow of $45.14 million on Tuesday. This marks the fund’s 11th consecutive day of inflows, which is the longest streak of positive flows since February.
Since converting into a spot bitcoin ETF, GBTC has been losing funds on most days, including yesterday, when it saw net outflows of over $105 million. As of Wednesday, GBTC has a net asset value of $19.65 billion.
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