Bitcoin ETF

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<p class="is-style-lead">Crypto asset manager Grayscale continues to see a slowdown in outflows from its Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) spot exchange-traded fund (<a href="https://crypto.news/tag/etf/" target="_blank" rel="noreferrer noopener">ETF</a>).</p> 
<p>In a Feb. 19 post on X, co-founder of ETF Institute Nate Geraci reported that the total outflow of funds from Grayscale’s GBTC since its conversion to a spot Bitcoin ETF has reached $7 billion.</p> 
<p>However, at the same time, the pace of asset outflows has slowed significantly, with Geraci noting that the “bleeding” may be close to stopping. </p> 
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   <p lang="en" dir="ltr">GBTC has $7bil outflows in past 5 weeks…<br><br>What a chart.<br><br>Outflows clearly slowing. <br><br>Interested to see what happens moving forward. <br><br>Play for Grayscale IMO is to launch “mini-GBTC” (spot bitcoin ETF at significantly lower fee). SPDR did this w/ GLD &amp; GLDM.<br><br>via <a href="https://twitter.com/biancoresearch?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@biancoresearch</a> <a href="https://t.co/NrZnqzUiAi" target="_blank">pic.twitter.com/NrZnqzUiAi</a></p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1759401783074443609?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 19, 2024</a>
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<p>While January saw the largest share of outflows, with $5.64 billion leaving GBTC by the end of the month, but February saw only $1.37 billion in outflows.</p> 
<p> You might also like: <a href="https://crypto.news/spot-bitcoin-etfs-hit-record-daily-net-inflows-of-631m/"> Spot Bitcoin ETFs hit record daily net inflows of $631m </a> </p> 
<p>However, further outflows could also occur after a judge recently signed an order allowing bankrupt crypto lender Genesis to sell off some of its investment from Grayscale.</p> 
<p>According to court documents, Genesis <a href="https://crypto.news/genesis-court-sell-billion-grayscale-gbtc-shares/" target="_blank" rel="noreferrer noopener">owned</a> approximately $1.6 billion shares in GBTC, Grayscale Ethereum Trust (ETHE), and Grayscale Ethereum Classic Trust (ETCG).</p> 
<p>Meanwhile, in the first month since their launch on Jan. 11, the assets of nine leading spot Bitcoin ETFs exceeded 200,000 BTC, or $9.5 billion. New Bitcoin ETFs rose to second place in the ranking of commodity exchange-traded funds in the United States by asset volume, becoming a more popular investment vehicle than silver ETFs.</p> 
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   <p lang="en" dir="ltr">There we have it! The new nine have amassed more than 200k BTC.<br><br>Second-strongest daily U.S. spot flow since launch yesterday. <br><br>Since launch, the total net inflow to U.S. spot ETFs sits at a massive 51,134 BTC. <a href="https://t.co/6RFugg7jZO" target="_blank">pic.twitter.com/6RFugg7jZO</a></p>— Vetle Lunde (@VetleLunde) <a href="https://twitter.com/VetleLunde/status/1755876912205857016?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 9, 2024</a>
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<p>The nine Bitcoin ETFs include <a href="https://crypto.news/tag/BlackRock/">BlackRock</a> (IBIT), <a href="https://crypto.news/tag/Fidelity/">Fidelity</a> (FBTC), <a href="https://crypto.news/tag/Bitwise/">Bitwise</a> (BITB), Ark 21Shares (ARKB), <a href="https://crypto.news/tag/Invesco/">Invesco</a> (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC) and WisdomTree (BTCW).</p> 
<p> Read more: <a href="https://crypto.news/bitcoin-etfs-inflows-crypto-market-cap/"> Bitcoin ETFs see 14 consecutive days of net inflows as crypto market cap crosses $2t </a> </p>

Grayscale’s spot Bitcoin ETF GBTC outflows hit $7b

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