BTC Maintains $65K as GBTC Outflows Hit Highest Level Ever

Outflows of GBTC tend to add pricing pressure to bitcoin because of increased selling

is down 4% and trading above $65,000 as the selling of Grayscale Bitcoin Trust shares hit its highest level ever.Data from investment firm Farside shows that there's a net outflow from bitcoin ETFs in general to the tune of $154 million. The iShares bitcoin ETF saw the most inflow of $451.5 million, while the remaining products had inflow of approximately $36.7 million.from GBTC – which recently converted into an ETF – because of its higher fees.

Over the last week bitcoin is down 8.5%, according to CoinDesk Indicies data, but remains up 27% over the past 30 days.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

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