The post Grayscale Bitcoin ETF Experiences Massive $579 Million Outflow appeared first on Coinpedia Fintech News
Grayscale, a prominent American digital asset management company has encountered substantial outflows in its Spot Bitcoin ETF, Grayscale Bitcoin Trust (GBTC). Many expert analysts attribute the outflows to factors such as elevated trading fees and potential accounting irregularities.
Grayscale’s bumpy journey
Despite obtaining approval for its Spot Bitcoin ETF from the United States Securities and Exchange Commission (SEC), Grayscale has faced challenges. After witnessing steady inflows following the ETF’s approval, recent reports indicate a staggering outflow of approximately $594 million from Grayscale’s GBTC.
Bloomberg Analyst James Seyffart shared a spreadsheet detailing the cumulative inflows and trading volumes of various Spot Bitcoin ETF companies. Grayscale stands out with total net outflows reaching $1.173 billion. Seyffart suggested that delayed accounting an
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