The volume of bitcoins managed by the Grayscale Bitcoin Trust has dropped nearly 50% since switching to a spot ETF. Unlike other issuers such as BlackRock or Fidelity, Grayscale's investment product launched on the NYSE with around 619,220 BTC. As of today, the volume of cryptocurrency in GBTC has decreased to 311,621 BTC. 😮

Since January, the value of assets under management (AUM) has fallen by just 31%, from $28.7 billion to $19.6 billion, despite a 38% increase in the price of BTC.

BlackRock's spot Bitcoin ETF came close to the leader with $17.2 billion. At the same time, the outflow of funds since the launch of GBTC amounted to $16.38 billion.

Despite recent statements by Grayscale CEO about stabilization of outflows from GBTC, the withdrawal of funds continues.