GBTC Sheds Assets as Rival Bitcoin ETFs Add Investors

This week has continued the dueling spot bitcoin ETF narratives of Grayscale GBTC shedding assets at a fast clip but inflows to nine other products rising.

Tuesday outflows of $515 million brought this week’s total to over $1.15 billion. The Grayscale Bitcoin Trust ETF (GBTC) has lost nearly $4 billion in assets in the eight trading days since the Securities and Exchange Commission approved the new products. Its rivals gained $409 million in assets on Tuesday to raise their weekly inflows to $963 million. They have received nearly $5 billion in inflows since their Jan. 11 unveilings. Wednesday totals were unavailable at the time of publication.

Source - Yahoo Finance

Read more.