The Grayscale Bitcoin Trust (GBTC) has been facing a notable decline, with over $166 million and more than 2,500 Bitcoin being withdrawn on Friday, April 12. This latest withdrawal is part of a broader trend that has seen the fund’s outflows reach a staggering $16.2 billion since its transformation into a spot Bitcoin exchange-traded fund (ETF) in January, according to Farside Investors. Throughout the month of April, daily withdrawals have ranged from $75 million to $300 million, highlighting ongoing volatility in investor activity. This downturn in GBTC is mirrored by a general slowdown in inflows across other spot Bitcoin ETFs,
