The Grayscale Bitcoin Fund (GBTC) continues to lose assets: on Friday, April 12, more than 2,500 BTC were withdrawn, worth over $166 million. Since January, the total withdrawal volume has exceeded $16.2 billion. 😮

At the same time, inflows into the Bitcoin ETF are minimal, indicating a decline in investor interest. It is likely that a significant portion of the GBTC withdrawal went to BlackRock, which manages over $15 billion in assets.

The main reason for the massive withdrawal from GBTC is the high management fees that the fund charges. Despite the loss of assets, GBTC management is in no hurry to reduce the commission.