Daily Outflows of 10,000 Bitcoins from Bitcoin Spot ETF GBTC, with 500,000 Bitcoins Still Awaiting Sale?

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Bitcoin Spot ETF Experiences Net Outflow for the Second Time
GBTC Daily Net Outflow of Approximately 10,000 Bitcoins
Trading Volume Continues to Rise
Bitcoin Spot ETF Experiences Net Outflow for the Second Time
According to Bloomberg ETF Analyst James Seyffart’s compiled data, there are several key points:
The Bitcoin Spot ETF experienced a net outflow of $582 million on its fifth day.
Net outflows were observed on the second and fifth trading days.
The Bitcoin Spot ETF has had a net inflow of $1.121 billion to date.

GBTC Daily Net Outflow of Approximately 10,000 Bitcoins
Data compiled by CC15Capital shows that GBTC has sold a total of 52,247 Bitcoins from January 9 until now. If net outflows continue in the future trading days, it means that Grayscale still has 566,973 Bitcoins to sell.
The Bitcoin price has to withstand the daily average selling pressure of approximately 10,000 Bitcoins from GBTC, which has already resulted in a net outflow of approximately $2.216 billion.
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JPMorgan: GBTC Fund Outflows Could Reach $3 Billion, Putting Pressure on Bitcoin
)
Despite the ongoing net outflows from GBTC, the negative premium continues to decrease.
CoinGlass shows a discount of -0.27%,
Ycharts shows a discount of -0.47%.
Grayscale CEO Michael Sonnenshein remains confident in GBTC.
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Grayscale CEO: Most Bitcoin Spot ETFs Won’t Survive
)
Trading Volume Continues to Rise
The good news is that Bloomberg ETF Analyst Eric Balchunas pointed out that the trading volume of 9 Bitcoin ETFs continues to grow, increasing by 12% compared to Thursday and 53% compared to Wednesday.
He emphasized that this is a rare phenomenon, and the trading volume of Fidelity (FBTC) is even higher than that of BlackRock (IBIT). These two institutions are engaged in fair competition to compete for the dominant position in Bitcoin spot ETF products, which motivates them to work even harder.
Eric Balchunas
GBTC
Michael Sonnenshein
Bitcoin Spot ETF
Grayscale

Further Reading
Grayscale CEO: Most Bitcoin Spot ETFs Won’t Survive
In just five days, Bitcoin surpasses silver to become the second-largest ETF in the United States, second only to gold.