Grayscale Records Over $20B Outflows from Bitcoin and Ether ETFs
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Grayscale Investments has recorded significant outflows from its ETFs, amounting to over $20.4 billion. The Grayscale Bitcoin Trust ETF (GBTC) has been particularly affected, losing an average of $137.7 million daily over almost seven months since its launch. As of July 29, GBTC had total outflows of $18.86 billion.
This development highlights the challenges faced by Grayscale in maintaining investor interest in their Bitcoin and Ether ETFs. The substantial outflows could indicate waning confidence or shifting preferences among cryptocurrency investors.
The news of such large outflows is a significant event in the cryptocurrency market, reflecting broader trends and sentiments. It may have implications for the performance and perception of similar products in the market.
Source: coinpedia.org ↗
