Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Grayscale Bitcoin ETF surpasses $20B net outflows

Grayscale Bitcoin ETF surpasses $20B net outflows

Cryptobriefing2024/09/17 08:12
By:Cryptobriefing

Key Takeaways

  • GBTC's total net outflows have surpassed $20 billion since its ETF conversion.
  • BlackRock's iShares Bitcoin Trust saw a resurgence in inflows, collecting $15.8 million.

Grayscale Investments’ Bitcoin Trust (GBTC) continues to face investor redemptions, with another $20.8 million withdrawn on Monday, according to data tracked by Farside Investors. This brings the total net outflows since its exchange-traded fund (ETF) conversion in January to over $20 billion.

Grayscale Bitcoin ETF surpasses $20B net outflows image 0 Source: Farside Investors

The pace of outflows has slowed compared to earlier this year. Data reveals that the first $10 billion was withdrawn within two months of its ETF conversion, while the subsequent $10 billion took over six months.

However, GBTC remains under pressure as investors continue to exit positions . The fund’s Bitcoin holdings have decreased to approximately 222,170, valued at around $12.8 billion, data shows.

Despite GBTC’s losses, the US spot Bitcoin ETF market as a whole remains positive. On Monday, these ETFs collectively attracted $12.8 million in net capital.

BlackRock’s iShares Bitcoin Trust (IBIT) saw a resurgence of inflows after a period of stagnation , taking in $15.8 million. Other prominent Bitcoin ETFs managed by Fidelity, Franklin Templeton, and VanEck reported inflows of around $5 million each.

Grayscale’s low-cost Bitcoin ETF also managed to attract some inflows, ending the day with $2.8 million. The rest reported zero flows.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Banking the unbanked, but this time for real?

Kriptoworld2025/05/11 01:55

Ripple and SEC made a $50 million deal

Kriptoworld2025/05/11 01:55

Altcoins Gear Up for Profitable Rally

Altcoin holders could be in for major gains as market sentiment turns bullish.Altcoin Holders Anticipate Major GainsWhat’s Fueling the Altcoin Rally?Time to Watch the Altcoin Market Closely

Coinomedia2025/05/10 23:44
Altcoins Gear Up for Profitable Rally

Best Cryptos to Buy Now: Why Qubetics, Cardano, and Toncoin Are Dominating 2025’s Blockchain Revolution

Explore why Qubetics, Cardano, and Toncoin are the best cryptos to buy now in 2025, with groundbreaking innovations and real-world applications.Qubetics ($TICS): Bridging Real-World Assets with BlockchainCardano (ADA): Pioneering Sustainable Blockchain SolutionsToncoin (TON): Revolutionizing Digital InteractionsUnderstanding Real World Asset TokenizationConclusion

Coinomedia2025/05/10 23:44
Best Cryptos to Buy Now: Why Qubetics, Cardano, and Toncoin Are Dominating 2025’s Blockchain Revolution