Grayscale ETFs Face Unprecedented Outflows

Grayscale Investments has seen over $20.4 billion in outflows from its Bitcoin and Ethereum ETFs.

Since launching on January 11, the Grayscale Bitcoin Trust ETF (GBTC) has faced average daily withdrawals of about $137.7 million, accumulating $18.86 billion in total outflows by July 29.

In contrast, the nine other U.S.-approved spot Bitcoin ETFs are seeing positive inflows. BlackRock’s iShares Bitcoin Trust (IBIT) leads with $19.93 billion in assets, followed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) at $9.9 billion, ARK 21Shares Bitcoin ETF (ARKB) with $2.6 billion, and Bitwise Bitcoin ETF (BITB) with $2.09 billion.

The newly launched Grayscale Ethereum Trust (ETHE) has also faced significant outflows, losing $1.72 billion in just five days. This has contributed to a total of $20.58 billion in outflows across Grayscale’s crypto ETFs, reducing their initial investments by 18.7%.

READ MORE:

Who is the Real Enemy of Bitcoin and Humanity?

Mads Eberhardt of Steno Research expects the large outflows from ETHE to taper off by August 2. He notes that while initial outflows have been high, they might indicate a positive short-term trend.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.