Grayscale’s Bitcoin ETF Outflows Reach a Record Low

Reading Time: < 1 minute

GBTC, the Grayscale Bitcoin Trust, has experienced a significant decrease in outflows, dropping by 90% in comparison to the previous day. This coincided with a rise in Bitcoin’s value after the release of new U.S. inflation data caused market fluctuations.

On April 10, GBTC experienced outflows of $17.5 million, a sharp decline from the $154.9 million outflows recorded on April 9, according to data from Farsight.

In the same period, Bitcoin’s price increased by 2.08%, currently standing at $70,474 according to CoinMarketCap. However, it briefly dropped to a low of $67,482 after the release of the U.S. Consumer Price Index for March, which showed a 3.5% year-on-year increase.

This raised concerns that the Federal Reserve may delay interest rate cuts.