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Grayscale’s Bitcoin ETF witnesses significant outflows totaling over $358 million, signaling a continuing trend. However, ETF analyst Eric Balchunas suggests that this pattern might soon reach its conclusion.

 

 

 

On March 21, Grayscale’s Bitcoin Trust experienced a substantial net outflow of $358.8 million, adding to the previous week’s high outflows, including a record-breaking $642 million on March 18, according to data from Farside Investors. These outflows contribute to a total of $1.8 billion leaving GBTC this week, marking the fourth consecutive day of net outflows across all 10 Bitcoin ETFs.

 

 

 

Eric Balchunas, a senior ETF analyst at Bloomberg, speculates that much of Grayscale’s outflows could stem from bankruptcies of crypto firms, indicating a potential nearing end to this trend. Balchunas suggests that once this phase concludes, only retail investors will remain, leading to a shift towards a more modest flow similar to that seen in February.

 

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