Roughly $1.1 billion has flowed from Grayscale’s ETF in the last three days as traders hit the exit after its discount narrowed.
An estimated $1.1 billion has flowed from Grayscale’s spot Bitcoin (BTC) exchange-traded fund (ETF) in the last three days of trading as investors rushed to exit the fund after its discount narrowed to the lowest level in nearly three years.
An estimated $594 million of outflows alone came from the third day of trading on Jan. 16, according to a Jan. 16 X (Twitter) post by Bloomberg ETF analyst James Seyffart.
Seyffart observed inflows from other recently launched Bitcoin ETFs but wasn’t sure whether those inflows outpaced the Grayscale Bitcoin Trust’s (GBTC) outflows on Jan. 16.
