Grayscale’s spot Bitcoin (BTC) exchange-traded fund (ETF) has experienced its third consecutive day of decreasing net outflows, reaching a record low of $22.4 million. This comes as ETFs collectively see a two-week high in net inflows.
According to Farside Investor data for Feb. 26, the Grayscale Bitcoin Trust (GBTC) showed three consecutive days of diminishing net outflows on Feb. 22, 23, and 26. Despite ending the trading week with a daily net outflow of $44.2 million, outflows decreased further on Feb. 26.
However, Grayscale has observed 31 consecutive trading days of outflows since its conversion to an ETF on Jan. 11, resulting in a total outflow of $7.47 billion from the ETF.
Adam Back, CEO of Bitcoin technology firm Blockstream, expressed anticipation on Feb. 26, suggesting that he is “waiting for the day GBTC flashes an inflow.” He noted that while it “could happen,” it would require “just enough premium” to incentivize traders to arbitrage the ETF.
Henrik Andersson, CIO at asset manager Apollo Crypto, echoed similar sentiments, suggesting that the first instance of Grayscale’s fund posting a net inflow would signal a significant event for the market.
Meanwhile, Farside’s data for Feb. 26 indicates that the combined net inflows of all Bitcoin ETFs, excluding Invesco and Galaxy’s, reached $515.5 million — the highest in two weeks. This follows a trend of fluctuating inflows, with notable contributions from Fidelity’s ETF, BlackRock’s ETF, ARK Invest, and 21Shares fund.
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