Since the Bitcoin ETF debuted in January, GBTC outflows have topped a stunning $16.2B.
A whopping $767 million has been drained from the GBTC this week.
With little sign of reducing anytime soon, Grayscale Bitcoin ETF GBTC’s Bitcoin holdings are steadily dwindling. After the fund lost more than 2,500 Bitcoin on Friday, April 12, the withdrawals from GBTC soared beyond $166 million. Farside Investors reports that since the Bitcoin ETF debuted in January of this year, GBTC outflows have topped a stunning $16.2 billion.
Daily withdrawals from the Grayscale Bitcoin ETF GBTC have fluctuated throughout April, ranging from $75 million to $300 million. But generally, Bitcoin ETF inflows have been rather modest, suggesting that investor interest is waning.
Persistent Selling Pressure
However, a whopping $767 million has been drained from the GBTC this week. As a result, GBTC has significantly dampened the overall inflow into Bitcoin ETFs this week.
Contrarily, BlackRock has maint
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