With little sign of reducing anytime soon, Grayscale Bitcoin ETF GBTC’s Bitcoin holdings are steadily dwindling. After the fund lost more than 2,500 Bitcoin on Friday, April 12, the withdrawals from GBTC soared beyond $166 million. Farside Investors reports that since the Bitcoin ETF debuted in January of this year,
According to the most recent edition of Reuter’s Inside ETFs, the remarks made by Grayscale CEO Michael Sonnenshein about Bitcoin ETFs seem to have sent shockwaves across the cryptocurrency market throughout the world. On April 10, investor interest was piqued by Michael Sonnenshein’s statement that Grayscale Bitcoin Trust (GBTC) outflows
Genesis Global Capital announced a successful sale of its Grayscale Bitcoin Trust (GBTC) shares. The defunct crypto lending firm used the funds to purchase 32,041 Bitcoins. The corporation is making this move to appease its creditors and customers. A total of over 36 million GBTC shares were sold out. The
The shift in momentum regarding institutional Bitcoin outflows may have already taken place. New information from several sources, including the UK-based investment business Farside, indicates that on March 22, the Grayscale Bitcoin Trust (GBTC) witnessed outflow of a mere $170 million. There has been a net decrease in assets under
Even if many think there’s space for further outflow, crypto asset manager Grayscale has seen a decrease in outflows from its spot Bitcoin ETF. Research from Bianco Research and Farside shows that as of February 16th, the total amount of money that has been pulled out of the Grayscale Bitcoin
Genesis, a defunct cryptocurrency firm, has been given the go light by a court to sell off its approx. 35 million Grayscale Bitcoin Trust (GBTC) shares. The crypto firm is now approved to sell its around $1.3 billion worth of GBTC after months of litigation were ultimately dismissed by the
According to Bloomberg Intelligence’s analysis, financial asset management company Grayscale Investments’ spot Bitcoin ETF product is experiencing a resurgence of bearish outlook. Evidence suggests that Grayscale’s GBTC outflows have resumed, reaching a new high of $101.6 million. The spot Bitcoin ETF had two consecutive days of outflows below $100 million,
Genesis Global Capital, a defunct cryptocurrency lender, has filed a fresh motion with the United States Bankruptcy Court for the Southern District of New York, requesting permission to liquidate almost $1.4 billion worth of trust assets. Genesis, a division of the Digital Currency Group (DCG), reportedly has $1.4 billion in
According to CoinShares, a digital asset management firm, withdrawals from Grayscale’s bitcoin ETF (GBTC) were higher than inflows into other funds, even if they slowed significantly during the last week. According to the research, the U.S. bitcoin ETFs experienced net inflows of only $1.8 billion, while GBTC suffered $2.2 billion
Dumping of cryptocurrency equities is ongoing as a due date for the anticipated approval of the spot Bitcoin ETF by the U.S SEC approaches. Following reports that Coinbase executives dumped their $COIN holdings, Cathie Wood’s asset management company Ark Invest allegedly dumped all of Grayscale Bitcoin Trust’s (GBTC) remaining shares.
