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$5B flight from GBTC likely led to outflows in other regions: CoinShares

January 30, 2024


A recent slump in the price of cryptocurrencies, prompted by outflows from the Grayscale Bitcoin Trust (GBTC), could be behind outflows from digital asset investment products in Europe and Canada, according to CoinShares.

“Recent price declines prompted by the substantial outflows from the incumbent ETF issuer (Grayscale) in the US totalling US$5bn, have likely prompted further outflows [in] other regions,” CoinShares explained in a Jan. 28 report.

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