Investment enthusiasm for the recently launched Bitcoin spot exchange-traded funds (ETFs) is diminishing, as evidenced by a recent net withdrawal of $80 million. Bloomberg has reported that these Bitcoin ETFs initially experienced a substantial $270 million influx on Wednesday. Yet, when considering the withdrawals from Grayscale Investment’s Bitcoin ETF, the net outflows reached approximately $153 million on the same day. This trend of net outflows persisted, with a $80 million withdrawal noted today, marking a fourth consecutive day of net reductions across these funds.
Particularly, these outflows were exclusively from the Grayscale Bitcoin Trust (GBTC), which evolved into an ETF following approval from the U.S. Securities and Exchange Commission. Since its conversion on January 11, GBTC, which has been operational for over ten y
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First found on: Bitcoin Spot ETFs Face $80 Million Net Outflow
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