Massive Outflows from GBTC: Since January 2024, Grayscale Bitcoin Trust has faced over 21 billion USD in outflows, averaging a daily loss of 89.9 million USD. This performance starkly contrasts with recently approved Bitcoin ETFs which garnered significant investments.
Positive ETF Market Growth: The total market for spot Bitcoin ETFs has reached over 35.5 billion USD, showcasing a trend of investor preference towards new vehicles, like BlackRock’s iShares Bitcoin Trust, which alone attracted approximately 35,883 billion USD since its launch.
Concerns for Grayscale: Grayscale’s declining numbers indicate a worrying shift in market sentiment, with investors opting for competitive funds. As Grayscale struggles to maintain market share, its future trajectory remains uncertain in a swiftly changing investment landscape.
Leave a Reply