- Grayscale’s GBTC has bled over $12 billion since inception, with the outflow trend persisting.
- Low inflows to other ETFs are becoming unable to counterbalance GBTC’s outflows.
- The U.S. spot ETF market has witnessed the third consecutive day of net negative flows, losing the recent $12.1 billion peak.
Data from European asset manager CoinShares has highlighted that the unyielding outflows from Grayscale Investment’s Bitcoin exchange-traded fund (ETF), GBTC, are now impacting the net flow of funds to the U.S. ETFs.
In a recent post on X, James Butterfill, the Head of Research at CoinShares, disclosed that Grayscale’s GBTC negative flows now surpass the dwindling inflows from newly introduced Bitcoin ETFs by the largest margin since their inception.
Butterfill noted that funds going into these Bitcoin ETFs have witnessed a total of $749 million in negative flow so far this week. The figure coincides with Grayscale’s GBTC outflow surpassing the $12 billion threshold, as depicted in the chart accompanying Butterfill’s tweet.
Grayscale outflows are greater than the slowing inflows from new bitcoin ETF issuers by the largest amount since launch. Ne…The post Grayscale $12B+ Bleeding Now Sinking Bitcoin ETF Net Flows appeared first on Coin Edition.