Bitcoin ETF

Bitcoin

Spot

The launch of Spot Bitcoin <a href="https://news.todayq.com/bitcoin-price-dips-to-two-week-low-etf-demand-cooling-down/" rel="noopener noreferrer nofollow">Exchange-Traded Fund</a> (ETF) might have sent the biggest crypto to the moon but it seems like the allure around these investment products is fading away. However, BTC had reflected these sentiments revolving in the market as its price dropped by over 7% in the last 7 days. Grayscale to lower its fees? 
According to the data shared by BitMEX Research, Grayscale’s GBTC recorded major outflows totaling nearly $13 billion since its launch in January. It added that the outflows intensified as more than with over $1 billion left the fund on Monday and Tuesday alone.
Analysts suggest that the outflows from GBTC may settle within the next week or two. This could turn out to be a piece of positive news for Grayscale. A report suggested that the competition from other major Bitcoin ETFs has added extra pressure on GBTC. A lower fee offered by Wall Street giants like BlackRock and Fidelity seems to be a potential reason behind GTBC’s outflow.
<a href="https://news.todayq.com/grayscale-ceo-defends-gbtc-fees-assuring-a-decrease-hereafter/" rel="noopener noreferrer nofollow">Grayscale BTC ETF</a> investors are paying a 1.5% management fee as of now, while BlackRock is offering the same service with 0.25% charges. (GBTC) price had recorded a drop of around 1.6% in the past 5 trading days. However, the BTC fund has gained more than 213% over the last 6 months. BTC ETF sees high outflow 
Data shows that the outflows from all 10 Bitcoin ETFs recorded a net outflow of $742 million over three days. The data compiled by Bloomberg shows that these funds have seen a net inflow of $11.4 billion to date. This remains one of the most successful debuts for an ETF&nbsp;
The funds have garnered net inflows of $11.4 billion to date, data compiled by Bloomberg show, still one of the most successful debuts for an ETF class.
Despite witnessing a huge outflow Bitcoin price jumped by 5% on Thursday trading hours. BTC price might have seen a decline of almost 7% in the last 7 days but it is still up by 32% in the last 30 days.
Bitcoin is trading at an average price of $67,296 at the press time. It is down by 9% from its ATH of $73,750 recorded on March 14, 2024. BTC has seen higher volatility in the last 7 days as its price trading at over $72,000 level went on to dip to the $60,000 level.&nbsp;

Grayscale Bitcoin ETF bleeds $13 billion, Will it settle now?

Todayq News

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