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    Grayscale Bitcoin Trust faces $21 billion in outflows, contrasted by growth in other Bitcoin ETFs

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    Since its inception in January 2024, the Grayscale Bitcoin Trust (GBTC) has seen $21 billion withdrawn. This makes it the only Bitcoin ETF in the U.S with more outflows than inflows. GBTC’s losses overshadow the profits of nine other Bitcoin ETFs. However, the overall Bitcoin ETF market enjoys steady growth, with total investments surpassing $35.5 billion. Grayscale’s Ethereum Trust ETF (ETHE) mirrors GBTC’s trend, experiencing over $3.5 billion in withdrawals since its launch, while other Ethereum ETFs flourish, led by BlackRock’s iShares and Fidelity Ethereum Fund.

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    Since its start on January 11, 2024, the Grayscale Bitcoin Trust (GBTC) has seen a whopping $21 billion pulled out. This makes GBTC the only Bitcoin exchange-traded fund (ETF) in the U.S. that’s seeing more money leaving than coming in.

    As of December 16, GBTC has lost a total of $21.045 billion, with an average daily loss of about $89.9 million over the last 11 months. This data comes from Farside Investors, who have been keeping tabs on the situation.

    In comparison, there are 10 other Bitcoin ETFs in the U.S. that have been more successful in maintaining a positive balance. Of these, GBTC’s losses eclipsed the profits of nine of them.

    The new nine Bitcoin ETFs – Fidelity’s Wise Origin Bitcoin Fund, Bitwise Bitcoin ETF, Invesco Galaxy Bitcoin ETF, and six others – have collectively attracted an impressive $20.737 billion.

    The iShares Bitcoin Trust from BlackRock has been particularly successful. It has raked in $35.883 billion, bringing in about $153.3 million every day since it started.

    In spite of this massive outflow of cash from GBTC, the Bitcoin ETF market as a whole has been booming, with total investments exceeding $35.5 billion in less than a year.

    On another note, the Grayscale’s Ethereum Trust ETF (ETHE), which launched alongside eight other Ethereum ETFs in the U.S., is experiencing a similar trend to the Bitcoin counterpart. Since its start on July 23, it has seen over $3.5 billion taken out.

    Meanwhile, the rest of the Ethereum ETFs have been doing well, with BlackRock’s iShares Ethereum Trust ETF and Fidelity Ethereum Fund leading the pack with nearly $3.2 billion and $1.4 billion invested, respectively.

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