Bitcoin ETFs Lose Ground for First Time in Weeks, Measured by Grayscale

Along with the post-peak Bitcoin price decline, the red-hot spot Bitcoin ETF market also appears to be slowing down.

Bitcoin is now trading. The all-time high from 2021 is $69,044 though Copying The market price of silver rose to a new high of over $73,000 per cent last week.

One reason? A large amount of capital is still flowing. went out of Greyscale's Bitcoin Trust (GBTC). The new exchange-traded fund (ETF) is a derivative of the essentially closed-end fund that has been around for years.

As with ETFs, it's easier for investors to redeem their shares and take their profits home, and they They have been doing that..

In fact, GBTC has had the largest inflow of any ETF since March 2009 at over $12 billion. basis Stats shared on Twitter by Todd Sohn, ETF and Technical Strategist at Strategas Securities.

Why such a movement in two months as an ETF? Son shared the conversation. Decrypt“There's arguably a few variables here – payback with some of the remaining carriers looking to leave this vehicle cheap for an ETF.

GBTC charges higher fees than other currencies, so investors are leaving. Title of payment a Hot oneAnd it has grayscale presented To provide another Bitcoin ETF with low fees.

Fund manager Van Eyck even this month It has been removed for the time being Fees for Bitcoin ETF to win more customers.

But despite the large grayscale outflow, investor interest in Bitcoin ETFs is “by no means” dying, Sohn added: nine other ETFs are still making big gains.

“The locomotive is still rolling, there's still great demand,” he said, adding that Bitcoin's current rate of decline is nothing to worry about.

Edited by Ryan Ozawa.