Grayscale Bitcoin and Ethereum Funds Experience Outflows of $107 Million

IconCryptoNewsTerminal Staff02 Aug, 2024

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Grayscale Bitcoin and Ethereum Funds Experience Outflows of $107 Million

Grayscale, the world's largest digital currency asset manager, has reported outflows from its Bitcoin and Ethereum funds. According to data from the financial data platform Farside Investors, $45.9 million left the Grayscale Bitcoin spot ETF (GBTC) on February 2nd, while $61.4 million was withdrawn from the Grayscale Ethereum spot ETF (ETHE) on the same day. In total, approximately $107 million was taken out of these two funds. These outflows follow a wider trend of investors withdrawing money from crypto funds in recent weeks. According to a report from CNBC, investors redeemed $1.1 billion from Grayscale's funds in January. This trend may reflect the current volatility in the crypto market and the uncertainty caused by the ongoing regulatory scrutiny.

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