What factors contributed to the recent 2.4% jump in shares of Grayscale Bitcoin Trust (GBTC.P)?

Shares of Grayscale Bitcoin Trust (GBTC.P) surged 2.4% on Monday following its first day of inflow since January, marking a significant turnaround for the ETF that tracks bitcoin's price. GBTC, which experienced $17.46 billion in withdrawals after converting to a more easily tradable ETF in January, faced challenges due to its higher fees compared to competitors. Some outflows were linked to bankruptcies in the crypto industry, as companies liquidated assets to repay creditors. However, on Friday, GBTC saw inflows of $63 million, according to Farside Investors. Currently managing $18.08 billion in assets, GBTC faces competition from BlackRock's iShares Bitcoin Trust (IBIT.O), which manages $16.91 billion. Grayscale announced plans in March to seek SEC approval to create a lower-fee Bitcoin Mini Trust, though fee details are pending.