2024-4-11 13:16 |
Sonnenshein said that some of the selling connected to settlements of bankrupt crypto companies like FTX are "largely behind us."
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The volume of Bitcoins managed by Grayscale Bitcoin Trust has decreased by almost 50% since the conversion to a spot ETF
There were $836 million in net outflows between March 18 and March 21, the report said.
Grayscale, the issuer of the world’s largest Bitcoin exchange-traded fund (ETF), has applied for a smaller version of its popular Grayscale Bitcoin Trust (GBTC) ETF under the “BTC” ticker, according to a Mar.
On March 11, Grayscale Bitcoin Trust (GBTC) saw a substantial withdrawal, with $494 million worth of Bitcoin, approximately 6,850 BTC, leaving the fund. BitMEX Research initially labeled this exodus a record outflow.
Grayscale’s GBTC may experience new sell pressure and outflows following a ruling in the Genesis bankruptcy case on Feb. 14.
Grayscale has updated the agreement to optimize its conversion into a spot Bitcoin (BTC) ETF. The corresponding document appeared on the website of the US Securities and Exchange Commission (SEC). The fund also wants to level the playing field when…