Bitcoin Spot ETF | GBTC Sees Daily Outflow of Ten Thousand Bitcoins, Half a Million Bitcoins Await Sales?

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Bitcoin spot ETF sees net outflows for the second time
GBTC daily net outflows of about 10,000 bitcoins
Trading volume continues to rise
Bitcoin spot ETF sees net outflows for the second time
According to Bloomberg ETF analyst James Seyffart’s data, there are several key points:
The Bitcoin spot ETF experienced net outflows of $582 million on the fifth day.
It saw net outflows on the second and fifth trading days.
The Bitcoin spot ETF has seen net inflows of $1.121 billion so far.
GBTC daily net outflows of about 10,000 bitcoins
Data compiled by CC15Capital shows that GBTC has sold a total of 52,247 bitcoins from January 9th onwards. If net outflows continue in the future trading days, it means that Grayscale still has 566,973 bitcoins to sell.
The Bitcoin price has to withstand the selling pressure of approximately 10,000 bitcoins from GBTC daily, and GBTC has already seen net outflows of about $2.216 billion.
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(
JPMorgan: GBTC outflows could reach $3 billion, causing downward pressure on Bitcoin
)
Despite the ongoing net outflows of GBTC, the negative premium continues to shrink,
CoinGlass
shows a discount of -0.27%,
Ycharts
shows a discount of -0.47%.
Grayscale CEO Michael Sonnenshein still has confidence in GBTC.
(
Grayscale CEO: Most Bitcoin spot ETFs cannot survive
)
Trading volume continues to rise
The good news is that Bloomberg ETF analyst Eric Balchunas pointed out that the trading volume of the 9 Bitcoin ETFs continues to grow, with a 12% increase compared to Thursday and a 53% increase compared to Wednesday.
He emphasized that this is a rare phenomenon, and the trading volume of Fidelity (FBTC) is even higher than that of BlackRock (IBIT). These two institutions are engaged in fair competition to dominate the Bitcoin spot ETF market, which makes them work even harder.
Eric Balchunas
GBTC
Michael Sonnenshein
Bitcoin spot ETF
Grayscale
Expanded reading
Grayscale CEO: Most Bitcoin spot ETFs cannot survive
Bitcoin surpasses silver to become the second-largest ETF in the United States in just five days, second only to gold.