Grayscale’s GBTC Outflows Hit $7B Amidst Recovery, But ‘Bleeding’ to Continue
GBTC’s Bitcoin holdings have declined to 456,034 BTC. Grayscale GBTC’s outflows have been experiencing outflows. Data shows that as of February 16th, the total funds withdrawn from GBTC since its conversion to a spot Bitcoin ETF have amounted to $7 billion. While the figure appears to be slowing down considerably, the once-premier fund is seeing stiff competition from ETFs by BlackRock and Fidelity, which have grown their asset bases with inflows.
Source
https://t.me/CryptoMarketTime
