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Grayscale CEO Michael Sonnenshein predicted that outflows from the Grayscale Bitcoin exchange-traded fund will stabilize and reach an equilibrium.
However, Sonnenshein mentioned that selling related to bankrupt crypto companies like FTX is “largely behind us.” Numerous such entities that filed for bankruptcy in 2022 and 2023 had shares of Grayscale’s former trust on their balance sheets and sought to sell them after the product transitioned to an ETF to repay creditors. Yet, this aspect has not been fully reflected in the flow data.
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