Grayscale CEO Hints At Slowdown In $15B Bitcoin ETF Outflows
Portfolio Pulse from Murtuza Merchant
Grayscale's CEO Michael Sonnenshein indicated a potential slowdown in the $15B outflows from its flagship ETF, GBTC, attributing the initial outflows to the liquidation of assets from bankrupt companies like FTX and high fees compared to new competitors. However, with the resolution of these issues and an optimistic outlook on fee reduction, the daily outflow rates have decreased significantly.
April 10, 2024 | 2:48 pm
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Grayscale's GBTC ETF sees a potential slowdown in outflows, with a positive outlook from the CEO on resolving issues related to bankrupt crypto companies and high fees.
The CEO's optimistic outlook and the reported decrease in daily outflow rates suggest a potential recovery for GBTC. The resolution of issues related to bankrupt crypto companies and the anticipation of lower fees could attract investors back to GBTC, positively impacting its short-term price movement.
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