GBTC, the largest and longest-running bitcoin fund recently converted into an ETF from a closed-end structure, endured $2.2 billion of net outflows through last week, while newly-opened U.S. bitcoin ETFs saw just $1.8 billion in net inflows, according to the report.
James Butterfill, head of research at CoinShares, noted that GBTC outflows now total over $5 billion since Jan. 11, but daily redemptions declined through the past week suggesting that the pace of sales is slowing.
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