Massive 24-hour outflow from Grayscale's GBTC Bitcoin ETF

Grayscale's GBTC spot Bitcoin exchange-traded fund has witnessed a dramatic reduction in its holdings.

Data suggests that within a 24-hour period, a whopping 20,803.83 bitcoins, equating to $867.98 million, have been removed from the fund's reserves.

This significant outflow marks the most sizeable decrease that GBTC has ever experienced since it transitioned into a publicly-traded ETF.