Grayscale is buying in BIG again!

Grayscale led the latest round of Bitcoin ETF inflows, marking one of the first meaningful buying stretches from them in a long time.
That’s a major shift after weeks where their products were a steady source of supply.
When one of the largest legacy holders moves from distributing to accumulating, market structure tightens fast.
At the same time, total spot Bitcoin ETF flows rebounded hard after the recent $1B+ reset week.
Capital didn’t disappear. It rotated, rebalanced, and came back.
The BlackRock outflow chatter also needs scale.
IBIT still sits on tens of billions in cumulative inflows, forming one of the largest structural bids Bitcoin has ever had.?
Here’s why the Grayscale move matters so much.
For most of this cycle, they represented legacy positioning unwinding.
Seeing net inflows return suggests long-duration capital is getting comfortable adding exposure again around current levels.
Short-term flows shake price.
Persistent allocators build floors.