Unprecedented in ETF History: Analyst Emphasizes GBTC’s Record Outflows, Exceeding All Others
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While Blackrock’s spot bitcoin exchange-traded fund (ETF), IBIT, experienced consistent inflows for 71 days before halting operations this week, Grayscale’s Bitcoin Trust (GBTC) holds the record with 72 consecutive days of outflows, surpassing any other ETF in history.
“No ETF has ever matched this,” remarked Eric Balchunas, Bloomberg’s senior ETF analyst, on Thursday.
Over 314,000 Bitcoins Divested: Analyst Points Out Grayscale’s Record Outflow Streak Tops All ETFs.
Grayscale’s Bitcoin Trust (GBTC), recently converted into a publicly traded spot bitcoin ETF, now holds the record for the longest streak of outflows in ETF history, spanning 72 days.
Eric Balchunas, Bloomberg’s senior ETF analyst, highlighted GBTC’s unprecedented outflow streak after noting the end of Blackrock’s 71-day inflow streak on Wednesday. Blackrock’s streak ranks as the tenth-longest among all ETFs historically. Confirming GBTC’s record, Balchunas stated, “Yes, GBTC has seen 72 consecutive days of outflows,” and emphasized, “No ETF has ever come close to this; it’s the #1 all-time record.”
Since its launch on January 11, 2024, Grayscale’s Bitcoin Trust (GBTC) has seen a significant reduction in its bitcoin (BTC) holdings. By April 25, the fund’s bitcoin balance was nearly under 300,000 BTC, holding precisely 302,663.95 BTC valued at $19.35 billion. On January 12, just a day after it began trading, GBTC held 617,079.99 BTC.
Over 72 days, Grayscale reduced its holdings by 314,416.04 BTC, totaling a divestment of $20.30 billion. The publication of this record by Eric Balchunas on platform X attracted both criticism and humor from the community. One commenter remarked, “Will go down as Grayscale’s biggest L in history,” while another noted, “Barry achieved a record that will endure forever.”
Meanwhile, despite Blackrock’s IBIT experiencing a halt in inflows on Wednesday, this spot bitcoin ETF still manages a substantial balance of 274,462.04 BTC. Data from coinglass.com shows that all ETFs collectively faced outflows totaling $120.6 million on the same day.
