Crypto News– On March 19, United States spot Bitcoin (BTC) exchange-traded funds (ETFs) collectively experienced their highest single-day outflows ever, totaling $326 million across 10 funds.
Grayscale Record ETF Outflow Sets Course to Exhaust Bitcoin Reserves in Four Months
As of March 19, Grayscale reported assets under management (AUM) of over $23.7 billion for its Bitcoin Trust (GBTC). At the current outflow rate, it’s projected that Grayscale could deplete its assets as soon as late July.
On the same day, Grayscale’s GBTC observed net outflows of $443.5 million. Interestingly, among all funds, only BlackRock, Fidelity, and Bitwise’s ETFs recorded net inflows, according to data from Farside Investors.
Together, these three funds generated $117.3 million in net inflows, marking the second-lowest inflow day for the nine newer Bitcoin ETFs, excluding GBTC.
BlackRock’s iShares Bitcoin Trust (IBIT) led the day with the largest net inflows of $75.2 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $39.6 million in net inflows.
At This Pace, Grayscale’s Biggest ETF Outflow Could Empty Bitcoin Reserves in Four Months
On March 19, United States spot Bitcoin (BTC) exchange-traded funds (ETFs) collectively experienced their highest single-day outflows ever, totaling $326 million across 10 funds.
As of March 19, Grayscale reported assets under management (AUM) of over $23.7 billion for its Bitcoin Trust (GBTC). At the current outflow rate, it’s projected that Grayscale could deplete its assets as soon as late July.
On the same day, Grayscale’s GBTC observed net outflows of $443.5 million. Interestingly, among all funds, only BlackRock, Fidelity, and Bitwise’s ETFs recorded net inflows, according to data from Farside Investors.
Together, these three funds generated $117.3 million in net inflows, marking the second-lowest inflow day for the nine newer Bitcoin ETFs, excluding GBTC.
BlackRock’s iShares Bitcoin Trust (IBIT) led the day with the largest net inflows of $75.2 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted $39.6 million in net inflows.
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