On March 18, capital outflows from the Grayscale Bitcoin Trust ETF (GBTC) reached a record level since the derivative's introduction on January 11.
On Monday, the fund created by Grayscale lost $642.5 million, and since February 29, the capitalization of this investment instrument has decreased by $12.4 billion.
At the same time, the volume of funds invested in iShares Bitcoin Trust (IBIT) increased by $451.5 million, but the remaining funds managed to attract a maximum of $17.6 million. That is why the size of investments in all Bitcoin ETFs combined decreased by $154.3 million.
Bitcoin ETF Capital Inflows and Outflows
Galaxy Digital founder Mike Novogratz predicted a fall in Bitcoin in the event of capital outflow from the BTC-ETF. He believes that the cryptocurrency could fall in price to $50,000. Novogratz doubts that the price of the coin will fall below this level and predicts a continuation of the bullish rally after the correction, resulting in the price of Bitcoin exceeding $100,000.
Bitcoin ETFs will likely become available on major electronic platforms within the next few months, according to Bloomberg senior ETF analyst Eric Balchunas.
After that, ETF-based options trading will likely be available before the end of the year, he predicted.
“I think those two huge catalysts are still to come,” he said.
