Grayscale Bitcoin Trust Outflows and ETF Market Impact
Monday, 25 March 2024, 17:36
Grayscale Bitcoin Trust Outflows
The Grayscale Bitcoin Trust witnessed a noteworthy outflow of $1.9 billion in a single week, causing a ripple effect in the ETF market.
ETF Market Impact
The outflows resulted in the U.S. spot bitcoin ETFs entering net outflows, despite buying activities by institutions like BlackRock and Fidelity post approval of new cryptocurrency ETFs by the SEC in January.
Key Points:
- $1.9 billion outflows from Grayscale Bitcoin Trust
- Buyers include BlackRock and Fidelity
- Selling pressure from Grayscale holders
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.