tl;dr
The Bitcoin ETF market has seen a dip of around 20%, with Grayscale’s GBTC experiencing a staggering outflow of $640 million in just one day. The outflows are now surpassing inflows, leading to a downturn in almost all the ETFs in the market. Despite initial remarkable inflows, recent reports show t...
The Bitcoin ETF market has seen a dip of around 20%, with Grayscale’s GBTC experiencing a staggering outflow of $640 million in just one day. The outflows are now surpassing inflows, leading to a downturn in almost all the ETFs in the market. Despite initial remarkable inflows, recent reports show that investors are withdrawing their assets, leading to an overall ETF outflow of $21 million. This marks a significant shift in the market following the long-anticipated Bitcoin ETF launch.
The crypto community has been eagerly watching the economy following the long-anticipated Bitcoin ETF launch, analyzing the market moves. However, recent reports unearthed that the Bitcoin ETF outflow is “picking up,” overpowering the inflows. James Seyffart, a Bloomberg analyst, shared an X post on January 23, citing the highest outflow of Grayscale’s ETF, GBTC. Today, GBTC saw a staggering outflow of $640 million, marking a “bad day for Bitcoin ETFs.” So far, Grayscale has seen a total GBTC outflow of $3.45 billion.
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