Traders Pull $579 Million Out of Grayscale Bitcoin ETF
- Only US spot Bitcoin ETF with net daily outflows since debut
- Money is likely going into cheaper Bitcoin funds, BI says
This article is for subscribers only.
Investors have pulled over a half of a billion dollars from the Grayscale Bitcoin Trust during its first days of trading as an ETF.
The fund, which won US Securities and Exchange Commission approval to convert to an ETF from a trust last week, has seen outflows totaling about $579 million, according to data compiled by Bloomberg. It’s a stark difference from the other nine spot Bitcoin ETFs, which have pulled in a total of nearly $1.4 billion.