Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

The volume of Bitcoins managed by Grayscale Bitcoin Trust has decreased by almost 50% since the conversion to a spot ETF. 
Unlike other issuers such as <a href="https://crypto.news/tag/BlackRock/" target="_blank" rel="">BlackRock</a> or <a href="https://crypto.news/tag/Fidelity/" target="_blank" rel="">Fidelity</a>, Grayscale’s investment vehicle launched on the New York Stock Exchange with approximately 619,220 BTC. According to Coinglass, the volume of cryptocurrency in Grayscale Bitcoin Trust (<a href="https://crypto.news/tag/GBTC/" target="_blank" rel="">GBTC</a>) had at its disposal as of April 16 has decreased to 311,621 BTC. 
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 <img loading="lazy" decoding="async" width="1024" height="479" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-16-at-18.52.23-1024x479.png" alt="Grayscale's Bitcoin ETF fund has lost half of assets since launch - 23"> 
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Since January, the value of assets under management (<a href="https://crypto.news/tag/AUM/" target="_blank" rel="">AUM</a>) has decreased by only 31% from $28.7 billion to $19.6 billion due to the increase in BTC’s 38% price increase since the Jan. 11 launch. 
BlackRock’s spot Bitcoin ETF came close to the leader with $17.2 billion. At the same time, the outflow of funds since the launch of the GBTC convertible fund amounted to $16.38 billion. 
BlackRock and Grayscale were the only products that recorded any fund movement on April 15. According to SoSoValue, total net outflows from spot Bitcoin ETFs in the U.S. were $36.67 million. 
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 <img loading="lazy" decoding="async" width="1024" height="277" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-16-at-19.04.38-1024x277.png" alt="Grayscale's Bitcoin ETF fund has lost half of assets since launch - 24"> 
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Despite Grayscale CEO Michael Sonnenshein’s <a href="https://crypto.news/bitcoin-etf-grayscale-outflows-april/" target="_blank" rel="">recent statement </a>about stabilizing outflows from GBTC, withdrawals from the fund have continued. 
 You might also like: <a href="https://crypto.news/grayscale-clo-anticipates-sec-approval-for-spot-ether-etfs-by-may/" rel=""> Grayscale CLO anticipates SEC approval for spot Ether ETFs by May </a>

Grayscale’s Bitcoin ETF fund has lost half of assets since launch

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