Grayscale spokesperson: It is expected that GBTC's diversified shareholder base will participate in profit realization and deploy investment strategies that affect trust fund flows

Bloomberg data shows that the Grayscale Bitcoin Trust (GBTC), valued at $24.2 billion, has seen an outflow of $7.4 billion within 31 trading days. Since converting to an ETF in mid-January, GBTC has not experienced a single inflow of funds. This contrasts sharply with nine other newly launched spot Bitcoin ETFs, all of which have been in a net inflow state since trading began. Several different factors e xplain this divergence: although GBTC is by far the largest and most actively traded peer, its 1.5% management fee means it is also the most expensive product, with most peers charging less than 0.3%.

 

In addition, bankrupt companies like Genesis Global Holdco LLC have been seeking to sell their holdings. A spokesperson for Grayscale said that they expect GBTC's diversified shareholder base will participate in profit-taking and deploy investment strategies affecting trust fund flows; we are pleased to see steady outflows continue especially under circumstances where real estate bankruptcy leads to forced sales. With market-leading liquidity, str ong trading volume and unparalleled performance record, we anticipate GBTC will continue to be a major capital market risk transfer tool for Bitcoin.