News - Grayscale ETF with lowest outflows since trading began

By Mike Hesp

Grayscale ETF with lowest outflows since trading began

Bitcoin (BTC)

With the end of the GBTC sell-off by Genesis, outflows from the Grayscale Bitcoin Trust are also decreasing. The BTC price is reacting positively.

Yesterday, April 10, $17.5 million flowed out of the Grayscale Bitcoin Trust (GBTC). This is the lowest amount since trading began on Jan. 11, According to data from Farside.

One reason for the falling outflows is: Genesis. The bankrupt crypto broker recently completed the sale of its GBTC shares - a major cause of the massive outflow from GBTC. This was reported by Bloomberg.

But it is not only outflows from GBTC that are decreasing. Inflows into IBIT, FBTC and co. are also currently taking a breather.

ETF sponsors are still extracting an average of $201 million of Bitcoin daily. In late February to mid-March, however, significantly more capital flowed into the Bitcoin Spot ETFs.

Spot ETFs have been a savior for the Bitcoin price so far. The cryptocurrency has risen from about $45,000 at the beginning of trading to $73,750 in the past three months.

At the time of writing, BTC is trading at $70,693, 4.23 percent away from its highest point ever.

Read this article to find out if the price could rise or fall after the upcoming halving - everything about the Bitcoin event of the year can be found here: What will happen to the Bitcoin price after the halving?

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