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Showing posts with the label outflow

GBTC outflows slow, signalling possible rebound; $GFOX set for major rally

Available data and expert submissions show Grayscale’s Bitcoin Trusts (GBTC) outflows are trending down, suggesting that the dumping spree may soon end. Although the outflow number is still considerably large, a rebound looks to be on the horizon for $BTC prices, and investors’ confidence is gradually returning. Galaxy Fox holders also expect a significant rally from the meme coin post-presale. The meme coin has performed impressively in its ICO phase, and observers expect more in its retail phase.  Galaxy Fox sets for retail exchange debut  Galaxy Fox is a new token on the rise. The multi-utility token aims to dominate the crypto space and yield profit for investors while at it. Galaxy Fox will be a beneficial currency in web3 space. It will play vital roles on numerous web3 platforms while overseeing everything in its ecosystem. The purchase-worthy meme coin has shown a glimpse of its profitability on presale, and many expect it to k...

Spot Bitcoin ETFs see $80m net outflows on Thursday

Investor interest in newly launched spot Bitcoin ETFs seems to wane, as another $80 million net outflow was recorded yesterday.  According to Bloomberg reports, Bitcoin ETFs witnessed an approximately $270 million inflow on Wednesday. However, factoring in the withdrawals from Grayscale Investment’s Bitcoin ETF, the net outflow s totaled about $153 million on that day. The trend continued today with a $80 million net outflow , marking the fourth straight day of net withdrawals across these 10 funds.  These outflow s were solely from the Grayscale Bitcoin Trust (GBTC), which transitioned into an ETF following the green light from the U.S. Securities and Exchange Commission. Since its transformation into an ETF on Jan. 11, GBTC, active for over a decade, has seen approximately $4.8 billion withdrawn.  You might also like: Tokens surge double digits as Bitcoin shrugs GBTC stream Bitcoin Spot ETF Flow – Day 10 Data out for all providers $80m net outflow for day 1...