Grayscale's GBTC leads $90 million outflow

Amid Bitcoin's (CRYPTO:BTC) price drop below $60,000, Grayscale's GBTC has stood out with a significant $90 million outflow from US spot Bitcoin ETFs, contributing to a total daily net outflow of $174.45 million across various funds.

This marks a week of consecutive negative flows, reflecting investor caution amid market volatility.

Other major ETFs like Fidelity's FBTC and Franklin Templeton's EZBC also saw substantial outflows, indicating widespread profit-taking and investor uncertainty.

Analysts suggest that if Bitcoin fails to regain stability above $60,500, further outflows could intensify, driven primarily by retail investors reacting to short-term market movements rather than institutional strategies.