Grayscale Bitcoin Trust outflows may have stabilized after months of selling amidst competition from nine other issuers.

Grayscale Bitcoin Trust outflows may have reached equilibrium after months of investor selling, Grayscale Investments CEO Michael Sonnenshein told Reuters. Grayscale has faced competition from nine other issuers since January, when the U.S. Securities and Exchange Commission approved rival bitcoin ETFs. Total outflows in the last three months reached $15 billion, but Grayscale's assets under management have only slightly dipped to $23.13 billion.

April 10, 2024
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