Originally published on: December 16, 2024
The Grayscale Bitcoin Trust (GBTC) has experienced significant outflows totaling over $21 billion since its debut on Jan. 11, making it the only negative net investment flow Bitcoin exchange-traded fund (ETF) in the US.
As of Dec. 16, GBTC’s total outflows reached $21.045 billion, with the trust shedding millions of dollars in investments on a daily basis. Farside Investors data reveals that GBTC has averaged daily outflows of $89.9 million over the past 11 months.
While the remaining 10 approved US spot Bitcoin ETFs have maintained positive balances, GBTC’s outflows surpass the combined investments of nine other funds. On the flip side, BlackRock’s iShares Bitcoin Trust (IBIT) has played a key role in maintaining a positive balance, attracting inflows totaling $35.883 billion.
Despite the substantial outflows from GBTC, the total spot Bitcoin ETF market has seen significant growth, surpassing $35.5 billion in investments within a year.
On a similar note, Grayscale’s Ethereum Trust ETF (ETHE) has experienced a trend parallel to its Bitcoin counterpart, losing over $3.5 billion since its launch on July 23. In contrast, BlackRock’s iShares Ethereum Trust ETF (ETHA) and Fidelity Ethereum Fund (FETH) have attracted substantial investments worth nearly $3.2 billion and $1.4 billion, respectively.
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