Equilibrium

Bitcoin ETF

Daily

<ul class="news-points"> 
 <li>GBTC experienced a $17.5 million outflow.</li> 
 <li>The figure marks a record low in outflows for the ETF.</li> 
 <li>Grayscale Investments’ CEO noted the company’s funds are nearing equilibrium with their outflows.</li> 
</ul> 
Data from Soso Value, a research platform for crypto investors, shows that Grayscale’s spot Bitcoin ETF (GBTC) experienced a $17.5 million outflow on Wednesday. The figure marks a record low in outflows for the ETF as the selling pressure on BTC continues to drop. 
Comparing the figures, GBTC’s combined net outflow for Monday and Tuesday was over $450 million. As of Wednesday, the cumulative outflow for the past three months has crossed $15 billion, per data from <a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="nofollow">Soso Value</a>. 
Commenting on the development, Grayscale Investments CEO Michael Sonneshein <a href="https://www.reuters.com/technology/grayscale-ceo-sees-bitcoin-etf-outflows-reaching-equilibrium-2024-04-10/" target="_blank" rel="nofollow">noted</a> the company’s funds are nearing equilibrium with its outflows. According to Sonneshein, the current trend follows a period of capital flight triggered by a combination of switch trades and settlements from bankruptcies like FTX. 
Still, on the same issue, Benjamin Stani, director of business development at Matrixport, said the GBTC outflows appear…
The post <a href="https://coinedition.com/gbtc-daily-outflow-drops-to-record-17m-as-grayscale-ceo-predicts-equilibrium/">GBTC Daily Outflow Drops to Record $17M as Grayscale CEO Predicts Equilibrium</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

GBTC Daily Outflow Drops to Record $17M as Grayscale CEO Predicts Equilibrium

Coin Edition

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