Grayscale’s BTF ETF Exodus Reaches $7.4 bn
The Grayscale Bitcoin Trust (GBTC), the world’s largest Bitcoin ETF, has experienced consecutive outflows, with $7.4 billion exiting across 30 trading days.
This is a significant departure from the nine newly launched spot Bitcoin ETFs, which are all net inflows since trading began.
GBTC’s 1.5% management fee makes it the most expensive offering, and bankrupt estates like Genesis Global Holdco LLC have been looking to offload their holdings.
Vident Asset Management expects GBTC’s diverse shareholder base to engage in profit-taking and deploy investment strategies that impact the Trust’s flows.
(With inputs from Shikha Singh)
You need to login in order to Like
