Fintech Nexus E-newsletter (January 23, 2024): Grayscale sees large outflows of its Bitcoin ETF


It has been virtually two weeks for the reason that SEC accredited Bitcoin ETFs and we now have some knowledge on the ten ETFs which have been buying and selling since then.

The 2 greatest and oldest names in finance are main the best way: BlackRock and Constancy. Every fund has attracted greater than $1 billion in inflows.

However the firm that led the push for the Bitcoin ETF, Grayscale, is definitely doing the worst. The Grayscale Bitcoin Belief (GBTC) has seen $2.8 billion in outflows for the reason that fund transformed to an ETF on January 11.

The trigger appears to be round charges. Grayscale has the best charges even after lowering its 2% price to 1.5%. A number of the new funds have an introductory supply of no charges. It additionally appears that FTX has contributed right here with the bankrupt crypto platform promoting most of its $597 million of GBTC.

Grayscale remains to be the 800-pound gorilla within the house with $22.9 billion in belongings. How lengthy it stays because the chief stays to be seen.

Grayscale Led the Combat for Bitcoin ETFs. Now Its Fund Is Bleeding Billions.

The crypto big’s $23 billion fund has essentially the most to lose.

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  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media firm targeted on fintech. Peter has been writing about fintech since 2010 and he’s the writer and creator of the Fintech One-on-One Podcast, the primary and longest-running fintech interview collection.


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