CDS Crypto News Grayscale Record ETF Outflow Sets Course to Exhaust Bitcoin Reserves in Four Months

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Grayscale Record ETF Outflow Sets Course to Exhaust Bitcoin Reserves in Four Months

The ETF experienced its highest outflow day as Bitcoin dropped to nearly $62,000 during U.S. trading hours, extending its decline from last week's peak.

sevval20/03/20241 Mins read371

The Etf Experienced Its Highest Outflow Day As Bitcoin Dropped To Nearly $62,000 During U.s. Trading Hours, Extending Its Decline From Last Week'S Peak.

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.

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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.

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.

Grayscale Record Etf Outflow Sets Course To Exhaust Bitcoin Reserves In Four Months

Sources:cointelegraph

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sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

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