Bitcoin’s price surged past the $50,000 mark on Monday, signaling a potential end to the 1-month-long selloff in Grayscale Investments’ spot fund.

Bitcoin rally to $50,000 coincided with increased inflows into spot Bitcoin Exchange-Traded Funds (ETFs) over the past week, reaching over $1.1 billion in net flows as outflows from the Grayscale Bitcoin Trust (GBTC) continue to slow down.

Weekly digital asset flows — Source

CoinShares’ report on February 12 highlighted the substantial inflows into newly issued spot-based Bitcoin ETFs in the US, totaling $2.8 billion since their January 11 launch.

However, it acknowledged that the potential sale of the Genesis holdings of $1.6 billion GBTC…

Read more on bitcoinnews