Grayscale Bitcoin ETF surpasses $20B net outflows #OUTFLOWS #ETFGrowth
While the pace of outflows has slowed compared to earlier this year, the overall trend remains negative.
Key Takeaways
• GBTC's total net outflows have surpassed $20 billion since its ETF conversion.
• BlackRock's iShares Bitcoin Trust saw a resurgence in inflows, collecting $15.8 million.
Grayscale Investments’ Bitcoin Trust (GBTC) continues to face investor redemptions, with another $20.8 million withdrawn on Monday, according to data tracked by Farside Investors. This brings the total net outflows since its exchange-traded fund (ETF) conversion in January to over $20 billion.
The pace of outflows has slowed compared to earlier this year. Data reveals that the first $10 billion was withdrawn within two months of its ETF conversion, while the subsequent $10 billion took over six months.
BlackRock’s iShares Bitcoin Trust (IBIT) saw a resurgence of inflows after a period of stagnation, taking in $15.8 million. Other prominent Bitcoin ETFs managed by Fidelity, Franklin Templeton, and VanEck reported inflows of around $5 million each.
Grayscale’s low-cost Bitcoin ETF also managed to attract some inflows, ending the day with $2.8 million. The rest reported zero flows. #FlowTraders
