Grayscale’s Bitcoin ETF Records Record Low Outflows Amidst Rising Market Momentum

Grayscale's spot Bitcoin exchange-traded fund (ETF) has experienced its third consecutive day of decreasing net outflows, hitting a record low of £22.4 million, while ETFs collectively achieved a two-week net inflow peak.

Grayscale Bitcoin Trust (GBTC) Outflows Show Signs of Diminishing, Despite Continuous Drain Since Transition to ETF

Data from Farside Investor on February 26th shows that the Grayscale Bitcoin Trust (GBTC) witnessed diminishing net outflows on February 22nd, 23rd, and 26th.

The trading week ended on Friday with a daily net outflow of £44.2 million, which further halved on February 26th.

On January 22nd, daily net GBTC outflows peaked at £640.5 million.

Despite this, Grayscale has seen 31 consecutive trading days of outflows since transitioning to an ETF on January 11th, with a total of £7.47 billion drained from the ETF.

Bitcoin Experts Await GBTC Inflow as Signaling Potential Market Shift

Adam Back, CEO of Bitcoin technology firm Blockstream, mentioned on X on February 26th that he is "waiting for the day GBTC flashes an inflow." Back suggested that while it "could happen," it would require "just enough premium" to incentivize traders to arbitrage the ETF.

Henrik Andersson, Chief Investment Officer at asset manager Apollo Crypto, agreed in a separate X post, stating that when Grayscale's fund records a net inflow for the first time, it "will be a mega signal to the market."

Bitcoin ETFs See Surge in Inflows, Fidelity Dominates with Second-Highest Inflow Day

Meanwhile, Farside's data for February 26th indicates that the combined net inflows of all Bitcoin ETFs excluding Invesco and Galaxy reached £515.5 million — the highest in two weeks.

On February 13th, the ETFs saw a combined net inflow of £631.3 million but struggled to sustain momentum since, witnessing even a net outflow of £35.6 million on February 21st due to a larger outflow day from GBTC and smaller inflows to other funds.

Fidelity's ETF received the majority of the inflows on February 26th, exceeding £243 million, accounting for nearly half of the day's net total.

It marks FBTC's second-highest inflow day ever, following January 17th.

BlackRock, ARK Invest, and 21Shares Among Contributors to Bitcoin ETFs' Strong Inflow Trend

The remaining net inflow came from BlackRock's ETF, along with ARK Invest and 21Shares fund, receiving respective inflows of nearly £112 million and over £130.5 million.