Grayscale’s Crypto ETFs See Significant Asset Decline After Majro Outflows
Grayscale’s cryptocurrency investment products, particularly its Ethereum and Bitcoin ETFs, have seen a notable decline in assets. Recent figures indicate that Grayscale’s total holdings have dipped below $20 billion.
Recent figures indicate that Grayscale’s total holdings have dipped below $20 billion.
This downturn is largely due to continuous outflows from its crypto ETFs. In the past week, the Ethereum Trust (ETHE) and Bitcoin Trust (GBTC) recorded net outflows of $10.7 million and $52.9 million, respectively, as of September 6.
Recent data highlights that the Grayscale Bitcoin Trust (GBTC) witnessed an outflow of $280 million last week, with $52.9 million withdrawn on Friday alone. This significant movement has contributed to a steep drop in the fund’s total assets.
READ MORE:
Here Are the Factors That May Have Contributed to the Bitcoin Price DropOverall, Bitcoin ETFs have seen $706 million in outflows over the past week.
Meanwhile, Arkham’s data shows that Grayscale’s overall holdings have now fallen below $20 billion, reflecting a broader decline in interest for Bitcoin ETFs amidst the ongoing crypto market downturn.
The market decline has been especially challenging for GBTC, which, despite its early success, has struggled to retain its asset base.
Similarly, Grayscale’s Ethereum Trust (ETHE) has also experienced outflows, with $10.7 million withdrawn on September 6. This has further pressured Grayscale’s asset management, with ETHE being the only Ethereum ETF to experience outflows that day.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
DiDi has become a digital banking giant in Latin America
DiDi has successfully transformed into a digital banking giant in Latin America by addressing the lack of local financial infrastructure, building an independent payment and credit system, and achieving a leap from a ride-hailing platform to a financial powerhouse. Summary generated by Mars AI. This summary was produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.
Fed rate cuts in conflict, but Bitcoin's "fragile zone" keeps BTC below $100,000
The Federal Reserve cut interest rates by 25 basis points, but the market interpreted the move as hawkish. Bitcoin is constrained by a structurally fragile range, making it difficult for the price to break through $100,000. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
Full text of the Federal Reserve decision: 25 basis point rate cut, purchase of $4 billion in Treasury bills within 30 days
The Federal Reserve cut interest rates by 25 basis points with a 9-3 vote. Two members supported keeping rates unchanged, while one supported a 50 basis point cut. In addition, the Federal Reserve has restarted bond purchases and will buy $40 billion in Treasury bills within 30 days to maintain adequate reserve supply.
HyENA officially launched: Perp DEX supported by Ethena and based on USDe collateral goes live on Hyperliquid
The launch of HyENA further expands the USDe ecosystem and brings institutional-grade margin efficiency to the on-chain perpetuals market.
Trending news
MoreCrypto prices
More
