"Record Outflows from Grayscale Bitcoin ETF Trigger Bitcoin Slump"
TL;DR Summary
Grayscale's Bitcoin Trust saw a record daily outflow of $642.5 million on Monday as bitcoin tumbled about 4%, bringing total outflows to roughly $12 billion since its conversion into an ETF on Jan. 10. The fund's assets now stand at $27.2 billion, compared to $29 billion on the first day of trading in the new ETFs. Grayscale CEO Michael Sonnenshein stated that the firm will cut fees on its fund "over time," as the current 1.5% fee is significantly higher than those levied by the nine other ETF providers.
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