Yesterday, Grayscale’s GBTC saw a net outflow of $166 million, despite Grayscale CEO Michael Sonnenshein recently stating that GBTC had reached a certain level of balance. While anticipated fund outflows, such as distressed institutional selling or potential transfer transactions, have largely become a thing of the past, investors are still choosing to exit due to the high fees compared to other competitors.
Inflation and War Concerns: Bitcoin Plunges to 65K, Hong Kong ETF Approval Takes Center Stage