According to TechFlow, on July 30, Cointelegraph reported that the total outflow of funds from Grayscale Investments' spot Bitcoin and Ethereum ETFs exceeded US$20.4 billion.
Grayscale's spot Bitcoin ETF (GBTC) has lost an average of about $137.7 million per day in nearly seven months since its launch on January 11. As of July 29, GBTC's total outflow was $18.86 billion. In contrast, the other nine Bitcoin ETFs approved in the United States at the same time all maintained positive balances.
The newly launched Grayscale Ethereum ETF (ETHE) has performed on par with GBTC in terms of outflows. Grayscale’s Ethereum ETF lost $1.72 billion in funds in five days, bringing Grayscale’s total crypto ETF outflows to $20.58 billion. In the process, Grayscale lost 18.7% of its initial seed fund of nearly $9.2 billion.
