Grayscale's Bitcoin Trust Hit by $15B Outflows as Investors Flee to Cheaper Rivals

Grayscale's Bitcoin Trust (GBTC) has seen over $15 billion in outflows this year as investors exit for cheaper spot Bitcoin ETFs
At current pace of 5,092 BTC per day, GBTC will run out of Bitcoin by July 8, however outflows are slowing
Competing spot Bitcoin ETFs like BlackRock's fund are seeing massive inflows, making it hard for Grayscale to compete
Outflows driven by GBTC's higher fees compared to competitors and collapsed crypto firms clawing back assets
Despite outflows, Grayscale still has over $20 billion in assets and decent revenue; price rises help subsidize outflows