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What's Behind Grayscale's Missing BTC Update After Purchase? — TradingView News

Core items:

  • Lookonchain highlighted that nine ETFs added 1,352 BTC to their holdings.
  • The iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund saw significant inflows.
  • Grayscale Bitcoin Trust recorded an outflow of 15,098 BTC.

The latest April 1 update released by Lookonchain, an on-chain analytics firm, has put the spotlight on the Bitcoin ETF market, specifically noting that Grayscale has not provided any updates on its Bitcoin holdings.

Nevertheless, it was revealed that nine ETFs, including Grayscale, collectively managed to add 1,352 BTC to their assets, marking a significant increase in their market value by around $92.3 million. This move underscores a dynamic period of activity in the crypto ETF space and shows the continued investment inflow and adjustments in these funds' holdings.

This event stands out because it shows the great trust and interest investors have in Bitcoin ETFs. For example, Blackrock-managed iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund experienced notable growth, recording net inflows of 8,885 BTC and 8,679 BTC, respectively, in a week. These numbers reflect strong investor confidence in these funds and indicate growing enthusiasm for Bitcoin as a solid investment option.

However, the situation was not uniformly positive for all ETFs. Despite holding the largest amount of BTC among the ETFs listed, the Grayscale Bitcoin Trust saw a notable outflow of 15,098 BTC over the same period. This suggests divergent investor sentiment in the cryptocurrency market, where fluctuations are common and trends can change quickly.

In total, the listed ETFs hold a total of 835,124 BTC, with a combined 7-day net inflow of 11,029 BTC. This inflow represents an approximate appreciation of $732 million and shows the significant impact of these ETFs on the market. Lookonchain’s data provides an insightful look into the evolving Bitcoin investment landscape through ETFs, suggesting a period of accumulation and increased investor confidence.

At the time of writing, the latest figures from CoinGecko show a decline in Bitcoin’s market value. Currently, Bitcoin (BTC) is trading at $66,254.61. This means that the price has fallen by 4.55% in 24 hours and by 6.13% over the past week.

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