Grayscale Bitcoin ETF sees sharp outflows, exacerbating Bitcoin's decline

The approval of a Bitcoin spot ETF today, injecting a flood of new capital into the crypto market, is seen as a major catalyst for a Bitcoin bull run. As inflows of capital looking to get in have naturally slowed, the catalyst effect of the Bitcoin spot ETF has also diminished.

Grayscale Bitcoin Trust (GBTC) saw an outflow of $643 million on Monday, the largest outflow since converting to an ETF on January 11. Previously, the nine new spot Bitcoin ETFs listed at the same time received strong demand, which was enough to make up for the large outflow of GBTC, but now the funds flowing into the products of giants such as Fidelity Investments and BlackRock are also decreasing.

According to monitoring by Farside Investors, the Bitcoin spot ETF had a net outflow of US$154.3 million on March 18, and Grayscale GBTC had a net outflow of US$642.5 million that day, setting a record for the highest single-day outflow since January 11. However, the nine new spot Bitcoin ETFs listed at the same time have received strong demand, making up for the outflow of GBTC, but now the funds flowing into giant products such as Fidelity Investments and BlackRock are also decreasing, among which BlackRock IBIT Net With an inflow of US$451.5 million, Fidelity FBTC had a net inflow of US$5.9 million yesterday, setting a record for the lowest inflow in a single day. #热门话题 $BTC