Grayscale Bitcoin ETF Exceeds $20 Billion in Net Outflows

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Grayscale Investments’ Bitcoin Trust (GBTC) continues to face investor redemptions, with another $20.8 million withdrawn on Monday, according to data tracked by Farside Investors. That brings total net outflows since its exchange-traded fund (ETF) conversion in January to more than $20 billion.

The pace of exits has slowed compared to the beginning of this year. The data shows that the first $10 billion was withdrawn within two months of the ETF conversion, while the subsequent $10 billion took over six months.

However, GBTC remains under pressure as investors continue to exit positions. The fund’s Bitcoin holdings fell to about 222,170, valued at about $12.8 billion, the data showed.

Despite GBTC’s losses, the overall US Bitcoin ETF spot market remains positive. On Monday, these ETFs collectively attracted $12.8 million in net capital.

BlackRock’s iShares Bitcoin Trust (IBIT) saw a resurgence in inflows after a period of stagnation, taking in $15.8 million. Other prominent Bitcoin ETFs managed by Fidelity, Franklin Templeton and VanEck reported inflows of around $5 million each.

Grayscale’s low-cost Bitcoin ETF also managed to attract some inflows, ending the day with $2.8 million. The rest reported zero flows.

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