GBTC outflow of $73 million on February 13
On February 14th, according to BitMEX Research data, GBTC had a outflow of 73 million US dollars on February 13th.
BitMEX Research: GBTC outflows reached $108 million on the 17th trading day
BitMEX Research released Bitcoin spot ETF trading data on social media platforms, GBTC outflowed 108 million US dollars on the 17th trading day.
Bitcoin spot ETF’s 16th trading day: GBTC outflows of $145 million
According to BitMEX Research, on the 16th day of trading since its launch, the Bitcoin spot ETF saw a outflow of $145 million from GBTC. In the past 16 trading days, GBTC has had a total outflow of $5.968 billion, but the outflow rate has slowed significantly.
As of February 2, the total number of GBTC Bitcoin holdings reached 478,337, a decrease of approximately 4254 BTC from the previous day.
Grayscale has released its daily position update, which shows that as of February 2, 2024, it holds 478,337.433 bitcoins, a decrease of about 4,254 BTC from February 1. In addition, as of February 2, the assets under management of GBTC (non-GAAP) were approximately $20.535 billion, with circulating shares falling to 535,380,100, and each share holding a continuously decreasing 0.00089345 bitcoins.
Grayscale GBTC has a 0.03% premium, and the ETH trust has a negative premium rate of 11.23%
Coinglass data shows that the current premium rate of Grayscale Bitcoin Trust Fund ETF (GBTC) is 0.03%. Grayscale ETH Trust has a negative premium rate of 11.23%, and ETC Trust has a negative premium rate of 40.66%. In addition, the premium rate of Grayscale LTC Trust is 102.56%, BCH Trust is 66.67%, SOL Trust is 356.89%, MANA Trust is 196.25%, LINK Trust is 248.10%, and FIL Trust is 1359.69%.
GBTC’s total outflow in the first 15 trading days was US$5.832 billion
BitMEX Research released Bitcoin spot ETF trading data on social media platforms. GBTC had a total outflow of 140,195 bitcoins in the first 15 trading days, equivalent to approximately 5.832 billion US dollars.
BitMEX Research: Grayscale GBTC’s net outflow exceeded 130,000 BTC on the 13th trading day
According to BitMEX Research data, 10 Bitcoin spot ETFs had a net inflow of 5689.9 BTC yesterday, and a cumulative net inflow of 27,339.7 BTC over 13 trading days. Grayscale GBTC had a net outflow of 5068 BTC yesterday, and a cumulative net outflow of 131,549.7 BTC over 13 trading days. BlackRock's Bitcoin spot ETF (IBIT) had a net inflow of 6870.3 BTC yesterday, and a cumulative net inflow of 63,409.5 BTC over 13 trading days. Bitwise Bitcoin spot ETF (BITB) had a net inflow of 502.4 BTC yesterday, and a cumulative net inflow of 14,556.3 BTC over 13 trading days. ARK Bitcoin spot ETF (ARKB) had a net inflow of 385.6 BTC yesterday, and a cumulative net inflow of 14,979.3 BTC over 13 trading days.
Cryptocurrency funds outflowed $500 million last week as GBTC fallout fades
Last week the global net outflow of cryptocurrency funds from asset management companies such as BlackRock, Bitwise, Fidelity, Grayscale, ProShares, and 21Shares reached a total of 500 million US dollars. The strong outflow of funds from GBTC stands in stark contrast to the total inflow of 1.8 billion US dollars from nine new spot Bitcoin ETFs launched last week, including BlackRock's IBIT with an inflow of 744.7 million US dollars and Fidelity's FBTC with an inflow of 643.2 million US dollars. Since their launch on January 11th, the nine new ETFs have received a total inflow of approximately 5.8 billion US dollars, while GBTC has had an outflow of 5 billion US dollars, resulting in a net inflow of 759.4 million US dollars. <br>
Former Wall Street Quantitative Analyst: Has Exited 75% of GBTC Positions
Former Wall Street quantitative analyst Tone Vays stated that he has personally exited 75% of his GBTC position and believes that the outflow of GBTC exceeds the total inflow of nine other spot Bitcoin ETFs, thereby putting pressure on the price of Bitcoin. However, Vays believes that this month and next month are good buying opportunities on dips.
GBTC redemptions have slowed, FTX bankrupt assets and sell-off by arbitrageurs are basically over
On January 27th, in a report by Needham analyst John Todaro, Thursday was one of the days with the lowest net outflow of GBTC, and it was also the third consecutive day of decreasing outflow, which may indicate that redemptions have begun to slow down. Although it is difficult to quantify the subsequent selling amount of GBTC, it believes that the two biggest driving factors for GBTC selling (selling of bankruptcy funds and arbitrage funds by FTX) have been close to completion.
