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International Business Times
International Business Times
Business
Nica Osorio

Crypto Capital Flight: Grayscale's GBTC Registers $2.2 Billion Outflows In Rapid 5-Day Dash

GBTC Bitcoin Grayscale Crypto Eric Balchunas SEC ETF United States Grayscale Investments
Grayscale's New Brand Identity (Credit: Grayscale Investments official YouTube channel)

The Grayscale Bitcoin Trust (GBTC) encountered a substantial surge in outflows and trading volume during the preceding five trading days as investors exhibited a keen interest in exiting the fund, leading to an estimated total of $2.2 billion in capital withdrawals.

The conversion of investors in Grayscale's Bitcoin Trust to a Bitcoin exchange-traded fund following the U.S. Securities and Exchange Commission's (SEC) approval has sparked an unprecedented wave of sell-offs, the sheer magnitude of which has taken analysts by surprise.

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