Grayscale’s Bitcoin ETF saw substantial investment outflows that surpassed the $66.9 million it had attracted just a few days earlier.
The rare investments that recently went into Grayscale’s Bitcoin (BTC) exchange-traded fund (ETF) dried up within two days amid massive outflows.
The Grayscale Bitcoin Trust (GBTC) recorded inflows worth $66.9 million in May after bleeding over $17.5 billion in 78 days straight since its Jan. 11 launch. The investments came in on May 3 and 6, each day attracting $63 million and $3.9 million, respectively.
However, the inflow trajectory failed to maintain momentum in the coming days.