Grayscale Bitcoin Trust’s (GBTC), with its 72 day outflow streak, has beaten an ETF Record. The consecutive days mark is not matched in any other exchange-traded funds’ history. Bloomberg analyst Eric BalchunasNo ETF even comes close.
Grayscale is now in a rarefied air, as it’s one of the worst-performing ETFs ever created. Investors have consistently pulled money out of the investment vehicle since it was approved in January this year. It is clear that the outflows have been going on for over 10 weeks.
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Grayscale Bitcoin Trust Breaks ETF Outflow Streak
Digital assets industry held high expectations of the market since 2024. This optimism stemmed in part from the anticipation of Spot Bitcoin ETF’s approval. In January, the US Securities and Exchange Commission approved these investment products.
One of these approved Bitcoin investments products, however, has performed incredibly poorly compared to others. Grayscale’s Spot Bitcoin ETF broke a new record by achieving a 72-day streak of outflows. Grayscale Bitcoin Trust, for example, has achieved something that no other ETF in history has.
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Erich Balchunas is a Bloomberg Analyst who responded to a query on X, formerly Twitter.com regarding the GBTC Outflow Streak. Balchunas responded by noting that GBTC is ranked number one in all time for the longest outflow streak. The question was then asked why.
Spot Bitcoins ETFs are largely a huge success. Grayscale, however, has had investors pulling out their funds now for two months. The product charges were attributed by many to the underperformance of Grayscale’s offering.
GBTC initially charged its users a 1,5% fee. The fee is higher than that of its competitors. Other options charge an average 0.2%. The firm cited its experience as a reason for charging the higher fees. Investors do not appear to be willing to pay a premium for a market where knowledge and experience are growing by the minute.
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Source: watcher.guru
