Grayscale’s Bitcoin ETF outflows have recently decelerated, but historical GBTC exits remain staggering at over $17.3 billion since its conversion in January. Elsewhere, six funds recorded zero net inflows, but experts have stressed that the trend is common on Wall Street as there are over 2,000 ETFs trading in America. One product offered jointly by ARK 21Shares diverged from the day’s status quo and attracted over $3 million in net inflows.
Data suggests that the decline in AUM is split between Grayscale outflows and Bitcoin prices. “The off-chain speculatory trading price discovery is also far from straightforward: distorted supply dynamics create a new fundamental equilibrium, and a new consensus price corridor is gradually built up. Secondly, the trading activity in both Bitcoin and altcoin pools has fallen, while the USDT pools, on the contrary, are experiencing higher volume.
