Seeking Alpha
2020-04-16 21:04:34

Money poured into Bitcoin Trust in Q1

There's still no Bitcoin ETF, but the Grayscale Bitcoin Trust (GBTC) took in a whopping $389M during the first quarter, bringing the last-twelve-month total to more than $800M.Bloomberg's Eric Balchunas notes that if GBTC were an ETF, it would be in the top 5% of year-to-date inflows.Bitcoin (BTC-USD) had quite the first quarter, rising from $7.2K to start the year to as high as $10.2K, before plunging to as low as $4.9K in mid-March.It's bounced since, and sits at $7,046 at current pixel time.

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