Grayscale Bitcoin Trust Witnesses Significant Outflows Amid Record-Breaking BTC ETF Trades

Grayscale Bitcoin Trust (GBTC) witnessed substantial outflows, with over $600 million exiting the trust on February 29, according to data from Farside Investors. This marks a total outflow of approximately $8.4 billion since the trust's inception on January 11.

Investors Withdraw $600 Million from Grayscale Bitcoin Trust (GBTC) Amid Performance Concerns

Investors continue to divest from Grayscale Bitcoin Trust (GBTC), with $600 million exiting the trust on February 29 alone. This ongoing trend highlights growing concerns among investors regarding the trust's performance.

Bitcoin ETFs Attract $940 Million Amid GBTC Outflows

While GBTC experienced significant outflows, several other Bitcoin exchange-traded funds (ETFs) recorded substantial inflows on the same day. Eight ETFs collectively added 14,934 BTC worth $940 million, indicating diverse investor preferences within the digital asset space.

Grayscale Appeals to SEC for Approval of Bitcoin ETF Options, Citing Investor Accessibility and Fairness Concerns

Grayscale Investments has appealed to the United States Securities and Exchange Commission (SEC) to approve options on its spot Bitcoin ETF. CEO Michael Sonnenshein highlighted the need to offer access to a broader range of investors and expressed concerns over potential discrimination against GBTC shareholders if options on GBTC were rejected.

Spot Bitcoin ETF Trading Volume Hits Record $7.69 Billion, Signaling Surging Investor Interest

Wednesday saw a remarkable surge in trading volume for spot Bitcoin ETFs, with $7.69 billion traded, surpassing previous volume records by over one and a half times. This surge reflects increasing interest and participation in Bitcoin ETFs as investors seek regulated investment vehicles for exposure to the leading cryptocurrency.

Bitcoin Hits Two-Year High Amidst Surging Market Capitalization and Diverse Investor Interest

Bitcoin continues its upward trajectory, reaching a two-year high earlier this week. With a surge of more than 19% in the past seven days, Bitcoin boasts a market capitalization of $1.2 trillion, reaffirming its status as one of the most valuable assets globally and attracting attention from institutional and retail investors alike.

In conclusion, despite Bitcoin's positive performance, Grayscale Bitcoin Trust faces challenges with significant outflows, while the broader digital asset space witnesses diverse investor preferences and record-breaking trading volumes in BTC ETFs.