GBTC - Who's In Who's Out? Big Investor Shifts Reshape Bitcoin ETF Landscape | Benzinga
In an intriguing shift within the spot Bitcoin (CRYPTO: BTC) ETF market, the group of ETFs experienced a net outflow of $41.1 million on day three, signaling a cautious stance from investors in certain funds while others gained traction.
Grayscale Bitcoin Trust (OTC: GBTC) bore the brunt of this movement, with a staggering net outflow of $590 million, according to BitMEX Research.
This figure stood out not only within the day's trading but also represented a significant portion of the trust’s total assets.
GBTC, a flagship product of Grayscale, has long been a gauge of institutional and seasoned investor sentiment towards Bitcoin, and such a sizeable withdrawal might indicate a shift in investor strategy or a broader market trend.
In stark contrast, BlackRock's (NYSE: BLK) iShares Bitcoin Trust (NASDAQ: IBIT) saw a robust net inflow of $214 million, suggesting a surge ...