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Grayscale Outflows Remain High, Wants SEC To Approve Options on GBTC

Published 03/01/2024, 01:19 PM
Updated 03/01/2024, 01:45 PM
Grayscale Outflows Remain High, Wants SEC To Approve Options on GBTC

  • Grayscale saw over $600 million leave its spot BTC ETF on February 29.
  • The total outflow from GBTC has been $8.4 billion since January 11.
  • Grayscale has urged the SEC to greenlight options on its spot BTC ETF.

Grayscale, a leading digital asset management firm, has witnessed another day of significant outflows from its spot Bitcoin exchange-traded fund (ETF), with over $600 million going out from its Grayscale Bitcoin Trust (GBTC).

According to the data from Farside Investors, Grayscale saw $600 million leave GBTC on February 29. Its total outflow is around $8.4 billion since the first trading day on January 11.

Meanwhile, on the same day, the other ETFs recorded significant inflows, with 8 ETFs adding 14,934 BTC worth $940 million. The iShares Bitcoin Trust (IBIT) by BlackRock, the world’s largest asset management firm, added 10,140 BTC worth $638 million, followed by Fidelity’s FBTC adding 4,066 BTC worth $255.9 million.

As reported earlier, spot BTC ETFs saw a whopping $7.69 billion being traded on Wednesday, breaking their volume record by over one and a half times.

It i…

The post Grayscale Outflows Remain High, Wants SEC To Approve Options on GBTC appeared first on Coin Edition.

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