Grayscale Bitcoin Trust's shares jump after first inflow since January

FILE PHOTO: Representations of cryptocurrency Bitcoin are seen in this illustration picture taken in Paris, France, March 9, 2024. REUTERS/Benoit Tessier/Illustration/File Photo

(Reuters) -Shares of Grayscale Bitcoin Trust jumped 2.4% on Monday after the exchange-traded fund (ETF) that tracks the price of bitcoin saw its first day of inflow since January.

The move marks a major milestone for GBTC, which has seen $17.46 billion in withdrawals since it converted from a trust to an easily tradable ETF in January, due to the higher fees it charges compared with rivals.