Bitcoin

Spot

Grayscale Bitcoin Trust

Spot Bitcoin ETFs experienced their largest three-day withdrawal since their launch in January. 
The trend marked a significant shift from the high demand propelling <a href="https://crypto.news/price/bitcoin/">Bitcoin</a> to its all-time high. Between Monday and Wednesday, these ETFs saw a withdrawal of $742 million, indicating substantial outflows from the Grayscale Bitcoin Trust alongside a decrease in new investments in competing funds by significant firms such as BlackRock and Fidelity Investments. 
Despite this, according to Bloomberg data, the <a href="https://crypto.news/grayscale-ethereum-trust-spot-etf/">ETFs</a> have attracted $11.4 billion in net investments since inception, making them among the most successful ETF launches. The Grayscale Bitcoin Trust, now an ETF, reported $13.3 billion in outflows. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="807" height="393" src="https://crypto.news/app/uploads/2024/03/achievements.png" alt="Bitcoin etf inflow" class="wp-image-14260071">
 <figcaption class="wp-element-caption">
 Spot Bitcoin ETF inflow | Source: <a href="https://www.bloomberg.com/news/articles/2024-03-21/us-spot-bitcoin-btc-etfs-post-largest-three-day-outflow-since-launch" target="_blank" rel="noopener">Bloomberg</a>
 </figcaption>
</figure> 
 You might also like: <a href="https://crypto.news/solana-blockchain-investors-coingecko/"> CoinGecko: Nearly 50% of investors considering Solana </a> 
While global stocks and gold continued to rise, Bitcoin’s rally cooled as the market digested the ETF outflow data. However, Bitcoin’s value surged over 5% today, fueled by the Federal Reserve’s indications of potential interest rate cuts, which lifted various asset classes.&nbsp; 
The stock price of Bitcoin-related companies has also seen notable gains today after a week-long decline. <a href="https://www.marketwatch.com/investing/stock/mstr" target="_blank" rel="noopener">MicroStrategy</a>, the largest holder of BTC, saw its share price increase by 15% today. Stocks from leading BTC mining companies like <a href="https://www.marketwatch.com/investing/stock/mara" target="_blank" rel="noopener">Marathon Digital</a> and <a href="https://www.marketwatch.com/investing/stock/riot" target="_blank" rel="noopener">Riot Platforms</a> also recovered slightly today following Bitcoin’s recovery.&nbsp; 
 Read more: <a href="https://crypto.news/ofac-sanctions-two-pro-kremlin-supporters-with-garantex-ties/"> OFAC sanctions two pro-Kremlin supporters with Garantex ties </a>

Bitcoin ETFs see record $742m in outflows over 3 days

crypto.news

Other articles published on Mar 21, 2024

Ethereum Price Climbs, Challenging Key Resistance Levels

Nine Chronicles (WNCG) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Europe Takes Historic Step with Adoption of AI Act

Bitcoin sidechain Mintlayer unveils new staking platform offering 198% APY

How Grayscale’s spot ETF caused Bitcoin to plunge hard

Bitcoin ETFs Bleed for Third-Day Despite Fed’s Dovish Stand, Caution Ahead?

Join our free newsletter for daily crypto updates!