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Grayscale’s Bitcoin ETF Exodus Reaches $7.4 Billion in First 30 Trading Days
The world’s biggest Bitcoin ETF has reached an inauspicious milestone: an entire month of consecutive outflows. The $22.8 billion Grayscale Bitcoin Trust (ticker GBTC) has seen $7.4 billion exit across 30 trading days as of Friday, Bloomberg data show. GBTC has yet to post a single inflow since it converted into an ETF in mid-January. That stands in contrast to the other nine freshly launched spot Bitcoin ETFs, all of which are sitting on net inflows since trading began. A few different factors explain the dichotomy: while GBTC is by far the largest and most actively traded of its peers, its 1.5% management fee ... (full story)