- On January 25, GBTC saw an outflow of $394 million,a notable decrease from the previous days’ outflows.
- The net outflow of GBTC since its launch stands at $4.4 billion, according to a Bloomberg report.
- JPMorgan predicts the conclusion of the profit-taking on GBTC and a further downside for Bitcoin.
The crypto community has been transfixed by massive outflows from Bitcoin exchange-traded funds since their launch earlier this month. Reportedly, one of the biggest player in the space, Grayscale Investments, has experienced a net outflow of more than $4.4 billion. However, investors may finally find solace as the GBTC outflow has been in decline for the past few days.
James Seyffart, a Senior ETF Analyst at Bloomberg, revealed that over the last day, GBTC saw an outflow of $394 million, a notable decline from the previous two days. January 23 saw $515 million and January 24 $425 million in outflows respectively.
Officially have ~$394 million out of $GBTC today— James Seyffart (@JSeyff) January 25, 2024
Meanwhile, there are assumptions that the profit-taking on GBTC has almost concluded. In a…
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