GBTC Daily Outflow Drops to Record $17M as Grayscale CEO Predicts Equilibrium

• GBTC experienced a $17.5 million outflow.
• The figure marks a record low in outflows for the ETF.
• Grayscale Investments’ CEO noted the company’s funds are nearing equilibrium with their outflows.

Data from Soso Value, a research platform for crypto investors, shows that Grayscale’s spot Bitcoin ETF (GBTC) experienced a $17.5 million outflow on Wednesday. The figure marks a record low in outflows for the ETF as the selling pressure on BTC continues to drop.

Comparing the figures, GBTC’s combined net outflow for Monday and Tuesday was over $450 million. As of Wednesday, the cumulative outflow for the past three months has crossed $15 billion, per data from Soso Value.

Commenting on the development, Grayscale Investments CEO Michael Sonneshein noted the company’s funds are nearing equilibrium with its outflows. According to Sonneshein, the current trend follows a period of capital flight triggered by a combination of switch trades and settlements from bankruptcies like FTX.

Still, on the same issue, Benjamin Stani, director of business development at Matrixport, said the GBTC outflows appear…

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