#Graysacle Bitcoin trust (GBTC) Witnesses Slowing Withdrawal Volumes:

Over the past few days, Grayscale’s Bitcoin Trust (GBTC) has shown a notable decline in withdrawal volumes, indicating a potential shift in investor sentiment. According to data from #BITMEX Research, on Feb. 23, #gbtc experienced withdrawals amounting to $44.2 million, marking the lowest daily volume since its transition on Jan. 11 from an over-the-counter product to an exchange-traded fund (ETF).
The trend of decreasing outflows is evident when examining the data from January onwards. By the end of January, GBTC had reported total withdrawals of $5.64 billion, with a substantial $640 million leaving on Jan. 22 alone. As February progresses, the pace of outflows has continued to slow, with a total of $1.8 billion withdrawn so far this month. Since its inception, GBTC has seen a total withdrawal of $7.4 billion.
This slowdown in withdrawals may suggest a stabilization or even a potential reversal in investor sentiment towards GBTC. It could signify a shift in strategy among investors, with some choosing to hold onto their positions rather than liquidating them. Additionally, it may reflect a growing confidence in Bitcoin and cryptocurrency markets as a whole, prompting investors to reconsider their withdrawal decisions.
While it’s essential to monitor the situation closely for further developments, the recent data indicates a notable shift in GBTC’s withdrawal patterns, potentially signaling changing dynamics within the cryptocurrency investment landscape.
#Write2Earn #TrendingTopic $BTC

JUST IN:

Total spot #Bitcoin  ETF trading volume surpasses $3.24 billion today:

• BlackRock: $1,318,226,580
• Grayscale: $843,654,199
• Fidelity: $587,327,032
• Ark Invest: $265,647,305
• Bitwise: $83,248,930
• Invesco: $60,072,480
• WisdomTree: $37,426,253
• VanEck: $23,984,634
• Franklin: $21,911,626
• Valkyrie: $6,938,398
• Hashdex: $217,096

#TrendingTopic #BlackRlock #Graysacle #Fidelity

📉 Grayscale outflows drop to $125M in 3 days — a major shift from the initial week's $400M daily outflow.

In total, Grayscale has lost 155k $BTC since ETFs launched, or 25% of its January 10th AUM —

#BTC #Graysacle

Grayscale Bitcoin Trust just had $63m INFLOWS for the first time since Bitcoin ETFs were launched on January 11!

The 77 day streak of outflows has been broken.
#BlackRock #Graysacle $BTC

JUST IN: Grayscale’s email notification shows that private placement subscriptions for some cryptocurrency trusts have been opened to accredited investors, including Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust, and Grayscale Stellar Lumens Trust. Subscriptions will be based on net asset value.

#Write2Earn #Graysacle #Bitcoin

After the approval of the Bitcoin ETF, how much capital flowed into the cryptocurrency market?

After the approval of the Bitcoin ETF, the cryptocurrency market saw an influx of funds. The ETF added a net increase of 110,000 bitcoins, bringing the total holdings to 37.21 billion US dollars. Since the ETF approval, as of February 25, 2024, the 11 Bitcoin ETFs held a total of 732,549 bitcoins, with a cumulative increase of 113,058 bitcoins. The total holdings for the Bitcoin ETF amounted to 732,000 bitcoins, with the managed fund size increasing from 28.59 billion US dollars to 37.21 billion US dollars, totaling an additional 8.6 billion US dollars in fund size.

Grayscale reduced its holdings by 175,000 bitcoins, while BlackRock acquired 127,000 bitcoins. Although the overall holdings of the Bitcoin ETF increased, the price of Bitcoin experienced a significant drop from $49,000 to $38,500 in the days following the approval of the Bitcoin ETF. This drop was primarily due to the reduction in holdings by Grayscale.

#BTC‬ #ETF #Graysacle #BlackRock #Binance

📊 $BTC #ETF How outflows from #Graysacle (bottom scale of the chart) were gradually overlapping with inflows into new spot Bitcoin-ETFs

JUST IN:

Grayscale CEO tells CNBC there is "tremendous investor demand" for spot #Bitcoin  ETFs 🐂.

Follow for the latest in this space

#TrendingTopic #BTC #ETFs. #Graysacle

🚨GRAYSCALE HAS TRANSFERRED 2070 BTC WORTH $99M TO COINBASE at the price of 50,000$

#Graysacle #Bitcoin #BTC #crypto #DYOR