Since its launch on January 11, the Grayscale Bitcoin Trust (GBTC) has seen outflows exceeding $21 billion, making it the only spot Bitcoin ETF in the U.S. with a negative net investment flow.
As of December 16, GBTC’s total outflows reached $21.045 billion, with the trust losing an average of $89.9 million daily over the past 11 months, according to Farside Investors.
While 10 other spot Bitcoin ETFs in the U.S. maintain positive net flows, GBTC’s massive outflows surpass the total inflows of nine of these funds combined.
The nine newer funds, including the Fidelity Wise Origin Bitcoin Fund, ARK 21Shares Bitcoin ETF, and Invesco Galaxy Bitcoin ETF, have collectively attracted $20.737 billion since their launch.
In contrast, BlackRock’s iShares Bitcoin Trust (IBIT) has significantly bolstered the market. IBIT alone has brought in $35.883 billion, with daily inflows averaging $153.3 million since its debut.
Despite GBTC’s challenges, the spot Bitcoin ETF market has surged, reaching $35.5 billion in total investments within the year.
Grayscale’s Ethereum Trust ETF (ETHE), launched on July 23 alongside eight other spot Ether ETFs, is also experiencing substantial outflows.
ETHE has lost over $3.5 billion in under six months, following a trend similar to GBTC.
Meanwhile, other Ether ETFs have posted positive inflows, led by BlackRock’s iShares Ethereum Trust ETF (ETHA) with nearly $3.2 billion in investments and Fidelity Ethereum Fund (FETH) with $1.4 billion.
These developments highlight contrasting investor sentiment, as BlackRock continues to dominate the market while Grayscale faces significant investment challenges.
