Spot Bitcoin Exchange-Traded Funds (ETFs) have processed over $20 billion worth of inflows in the last ten months, with BlackRock's Bitcoin ETF iShares receiving the most inflows.
Investors have been withdrawing significant amounts from Grayscale's Bitcoin ETF, GBTC, after the SEC allowed investors to cash out their gains following its conversion to an ETF.
However, Grayscale's Bitcoin ETF has started recording net inflows in the past five weeks, with $135 million worth of inflows.
The surge in inflows for Bitcoin ETFs can be attributed to a conducive regulatory environment and the boost in investors' appetite for risky assets after the Fed cut rates.