Daily outflows from the Grayscale Bitcoin Trust have fallen to the lowest amount since launch day, in what some hope is the beginning of the end of the exodus.
Outflows from Grayscale’s Bitcoin Trust (GBTC) have slowed for the second day in a row — prompting a glimmer of hope that a multibillion-dollar Bitcoin (BTC) dumping spree could soon end.
BitMEX Research data shows GBTC outflows were $429 million on Jan. 24 — the smallest daily outflow since the launch of Grayscale’s spot Bitcoin ETF on Jan. 11 and a 33% slowdown compared to the start of the week on Jan. 22.
In a Jan. 24 X post, Arkham explained the outflow data for GBTC shown on its platform is split between Coinbase Prime and new GBTC custody addresses — meaning not all of the BTC being moved from Grayscale’s Bitcoin Trust is necessarily being redeemed.
