Browsing:GBTC

Over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) have been sold since its conversion to an ETF
1 month ago 1 min read

Over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) have been sold since its conversion to an ETF

Investors have sold over $2 billion in shares of Grayscale Bitcoin Trust (GBTC) since its conversion to an exchange-traded fund (ETF). Concurrently, FTX’s bankruptcy estate completed a large sale of 22 million shares, accounting for a significant portion of the $2 billion in sales. GBTC has nearly $30 billion in assets after a decade of operations. However, its conversion to an ETF marked a watershed moment, resulting in increased competition from newly launched funds by financial behemoths such as BlackRock and Fidelity. Unlike its competitors, GBTC saw a significant withdrawal of investments, which many attributed to the trust’s relatively high

Grayscale Bitcoin Trust (GBTC) has experienced outflows totaling over $2 billion in five trading days.
1 month ago 1 min read

Grayscale Bitcoin Trust (GBTC) Sees Over $2 Billion Outflows in Just 5 Days Amid ETF Landscape Shift

According to recent data, Grayscale Bitcoin Trust (GBTC) has experienced outflows totaling over $2 billion in five trading days. Bloomberg ETF analyst Eric Balchunas reported the news, highlighting a significant shift in investor sentiment toward spot Bitcoin exchange-traded funds (ETFs). Furthermore, Grayscale Investments CEO Michael Sonnenshein said he was not surprised by the GBTC outflows. In an interview with Bloomberg, he emphasized that the company is more concerned with trading volumes. Sonnenshein defended GBTC’s 1.5% management fee, stating that it is reasonable given Grayscale’s “size, liquidity, and track record.” The increased outflows from GBTC do not necessarily indicate a decrease