Posted 3/19/2024, 10:52:10 PM
Bitcoin Price Drops from Highs, Investors Flee Grayscale's GBTC for Cheaper Crypto Funds
- Bitcoin price has dropped from its recent all-time high of $69,044; Bitcoin ETFs also cooling down
- Grayscale's Bitcoin Trust (GBTC) seeing massive outflows as investors redeem shares to capture gains
- GBTC had largest outflows ($12B) of any ETF since March 2009 due to high fees compared to other Bitcoin ETFs
- Other Bitcoin ETFs still seeing strong inflows showing ongoing investor interest in crypto
- Bitcoin's current downward momentum not necessarily a concern per strategist Todd Sohn
