After last week’s heavy outflows, the spot Bitcoin ETFs have once again witnessed net inflows throughout this week so far. On Thursday, March 28, all nine spot Bitcoin ETFs recorded a combined inflow of $178 million, however, one important development was a strong reduction in GBTC outflows. On Thursday, the Grayscale Bitcoin ETF GBTC recorded $105 million worth of outflows, a drop of 60% from its previous day.
GBTC Records Lowest Outflows for March
Throughout the month of March, there have been massive outflows from the Grayscale Bitcoin ETF GBTC. On Thursday, GBTC witnessed its lowest outflow ever since March 12.
$GBTC outflows of $105 million on 3/28 pic.twitter.com/jZZMYDZTvY
— HODL15Capital (@HODL15Capital) March 28, 2024
As per data from Farside Investors, more than $14.6 billion worth of Bitcoins have moved off GBTC ever since the Bitcoin ETF launch. GBTC has lost more than 50% of its Bitcoin holdings since the beginning of the year and currently stands at $340,000.
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