It’s been another big day of outflows from Grayscale’s Bitcoin ETF, but ETF analyst Eric Balchunas believes they will taper off soon.
Crypto asset manager Grayscale’s Bitcoin (BTC) exchange-traded fund (ETF) has notched another day of high outflows as nearly $359 million exited the fund on March 21, but analysts think the exodus could soon be coming to an end.
The Grayscale Bitcoin Trust’s (GBTC) March 21 net outflows of $358.8 million follows a massive week of outflows, with its $642 million on March 18 being the largest day on record, per Farside Investors data.
The latest figures bring this week’s total outflows for GBTC to $1.8 billion and marks the fourth consecutive day of net outflows across all 10 Bitcoin ETFs.
