CandleFocus Grayscale Bitcoin ETF surpasses $20B net outflows
2024-09-17
Author: Content Editor
Grayscale Investments' Bitcoin Trust (GBTC) has experienced more investor redemptions, with $20.8 million withdrawn on Monday, bringing the total outflows since its ETF conversion in January to over $20 billion. However, the pace of outflows has slowed down compared to earlier this year. GBTC's Bitcoin holdings have decreased to approximately 222,170, valued at around $12.8 billion. Despite GBTC's losses, the US spot Bitcoin ETF market as a whole remains positive, with several other Bitcoin ETFs attracting inflows, including BlackRock's iShares Bitcoin Trust (IBIT) and low-cost Bitcoin ETF managed by Grayscale.
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