Summary
TLDR: Grayscale’s Bitcoin Trust ETF sees record low outflows, helping overall US spot bitcoin ETF category end two-day net outflow streak. Bitcoin price increases, Grayscale’s GBTC product has seen net outflows every trading day since ETF conversion in Jan. Genesis offloading shares may have contributed to recent outflows. GBTC ETF’s net outflows stand at nearly $16 billion overall.
Key Points
1. The Grayscale Bitcoin Trust ETF (GBTC) saw a record low of $17.5 million in net outflows on Wednesday, a significant decrease from previous days.
2. The 11-fund US spot bitcoin ETF segment experienced net inflows of $124 million on Wednesday, aided by the reduced outflows from GBTC.
3. Despite GBTC’s net outflows totaling nearly $16 billion overall, the broader US spot bitcoin fund category has seen $12.5 billion in net inflows over the past three months.