<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Grayscale's GBTC&nbsp;<a href="https://twitter.com/FarsideUK/status/1778178398482841701" rel="noopener noreferrer nofollow">recorded</a> $17.5 million worth of outflows on Apr. 10. As noted by Teddy Fusaro, president at Bitwise Invest, this marks a record low for the ETF.&nbsp;
The cryptocurrency market has been plagued by disastrous Grayscale outflows.&nbsp;
Last month, ETF analyst Eric Balchunas speculated that the outflows were unlikely to be driven by retail investors due to their size and consistency.
As&nbsp;<a href="https://u.today/bitcoin-etfs-record-another-day-of-outflows" rel="noopener noreferrer nofollow">reported by U.Today</a>, Grayscale's GBTC logged a staggering $303 million worth of outflows on Monday. This was followed by nearly $155 million worth of outflows on Tuesday.
Even though GBTC just had another day in the red, the record-low outflows might give the bulls some hope that the worst is already over.&nbsp;
Grayscale CEO Mike Sonnenshein recently addressed the ETF's disastrous outflows, arguing that the firm's flagship fund was close to reaching "an equilibrium." Sonnenshein&nbsp;<a href="https://www.reuters.com/technology/grayscale-ceo-sees-bitcoin-etf-outflows-reaching-equilibrium-2024-04-10/" rel="noopener noreferrer nofollow">told Reuters</a> that the massive outflows were mostly due to bankruptcy selling and switch trade strategies employed by some market participants.&nbsp;
Sonnenshein has also stressed that GBTC's fees would be lowered in the future.&nbsp;&nbsp;

Is Grayscale's Nightmare Finally Over? GBTC Posts Record Low Ouflows

U_Today

Other articles published on Apr 11, 2024

SAND Crypto Expressing Bearish Behaviour, Can It Slump More?

Next Cryptocurrency To Explode Thursday, April 11 – Neo, Pendle, ORDI

Bitcoin Following Pattern of 2021 and Signaling Upcoming Altseason – Find Best Altcoins to Accumu...

Pepe Meme Coin Futures Launch on Coinbase, Price Climbs 5%

Solana Struggles, BEFE Shines: The Case for Investing in This MEME Coin

Ubisoft teases new blockchain game at Paris Blockchain Week

Join our free newsletter for daily crypto updates!