Grayscale’s Bitcoin ETF records lowest outflows since conversion

Grayscale’s GBTC posted $44.2 million in withdrawals on Feb. 23, marking its lowest daily volume since transitioning to an ETF.

Grayscale’s Bitcoin Trust (GBTC) has seen outflows reach their lowest point over the past few days, signaling a slowdown in withdrawal volumes. 

According to data from BitMEX Research, GBTC had withdrawals of $44.2 million on Feb. 23, the lowest daily volume since its conversion on Jan. 11 from an over-the-counter product to an exchange-traded fund (ETF).

By the end of January, GBTC reported withdrawals totaling $5.64 billion, with a significant $640 million exiting on Jan. 22 alone. February has seen a decline in outflows, amounting to $1.8 billion so far. Since its inception, GBTC has witnessed a total withdrawal of $7.4 billion.

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