Grayscale’s GBTC has just notched its largest day of outflows since its launch, though ETF analysts are optimistic that BTC ETFs are only just starting to gain momentum.
More than $640 million worth of Bitcoin (BTC) flowed out of crypto asset manager Grayscale’s spot Bitcoin ETF on March 18, marking the largest day of outflows for the fund since its conversion to a spot ETF on Jan. 11.
Grayscale notched a total of $642.5 million in outflows on March 18. At the same time, inflows into Fidelity’s Bitcoin ETF — the second-largest fund — stumbled to just $5.9 million, its lowest day on record, according to data from Farside Investors.
Both led to a net outflow for spot Bitcoin ETFs of $154.3 million.
