Posted 4/2/2024, 9:39:13 PM
Bitcoin Slumps as Grayscale Sees $302M Outflows Amid Growing GBTC Carnage
- Bitcoin ETFs saw over $302 million in outflows from Grayscale's GBTC fund on Monday
- GBTC has seen consistent investor outflows compared to other new Bitcoin ETFs
- Outflows are largely due to bankrupt crypto companies redeeming shares and investors moving to lower fee funds
- Bitcoin price dipped 6% in the last 24 hours to $65,348 per coin, down from a March high of nearly $74,000
- The recent ETF outflows indicate the carnage for GBTC isn't over yet despite slowing down recently
