Posted 4/10/2024, 10:16:00 AM
Grayscale Bitcoin Outflows Slowing After $15B Exited Over 3 Months
- Grayscale CEO says outflows from GBTC bitcoin ETF reaching equilibrium after $15B total outflows over past 3 months
- Outflows hit $600M per day in March but have fallen significantly recently to around $300M per day
- Some selling was connected to FTX bankruptcy but Sonnenshein says that is "largely behind us"
- Outflows likely due to investors selling GBTC to buy new spot bitcoin ETFs approved in January which have lower fees
- Grayscale expects GBTC fees to decrease over time
