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CryptoIntelligence 2024-03-23 07:55:40

Grayscale’s Bitcoin ETF Faces Record Outflows Amid Crypto Market Turmoil, But Analysts Predict a Turnaround

Grayscale’s Bitcoin ETF Faces Record Outflows Amid Crypto Market Turmoil, But Analysts Predict a Turnaround

Grayscale, a leading crypto asset manager, is experiencing a notable decline in investments in its Bitcoin exchange-traded fund (ETF), with recent data showing significant outflows. On March 21, the Grayscale Bitcoin Trust (GBTC) reported outflows of $358.8 million. This event comes on the heels of a record-breaking $642 million outflow on March 18, according to Farside Investors. Over the past week, GBTC has seen a total of $1.8 billion in withdrawals, marking a trend of persistent outflows across the cryptocurrency ETF sector for four consecutive days. Despite these significant outflows, experts believe this trend could be nearing its end. Eric

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