Bitcoin ETF’s hype after the SEC approval saw Grayscale dominate the market but for just the first day. Grayscale’s GBTC hit the $640 million mark for outflows on Monday, January 22. Other ETFs also saw significant NAV falls and large outflows.
Grayscale’s net outflows increase as the market struggles
Grayscale saw a huge increase in its outflows on Monday, January 22. The net outflow from the Grayscale Bitcoin ETF reached a whopping $640.50 million. Its overall net outflow now stands at an astounding $3.4 billion as a result.
The amount of excitement surrounding Spot Bitcoin ETFs hasn’t done anything to improve their performance since launch. GoinGape previously reported that all 12 Spot Bitcoin ETFs saw a net outflow of $87.20 million on the seventh day of trading.
Additionally, $1.09 billion has been invested in these ETFs overall thus far. The enormous $3.4 billion outflow from GBTC, however, has had a significant impact on the inflow metric. At the moment, Grayscale’
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