• Outflows from Grayscale have been more than net inflows into other spot ETFs.
• The management fees charged by Grayscale were the highest among all ETF issuers.

Bitcoin [BTC] dipped below $41,000 for the first time in six weeks, as the widely anticipated party post spot ETFs approval was turning out to be a damp squib.

The king coin fell to $40,761 at 5 am UTC on the 22nd of January, AMBCrypto noticed using CoinMarketCap’s data. As traders bought the dip, the price was pulled back up to $41,202 at press time.

Grayscale liquidations pull BTC lower

Outflows worth billions in Bitcoins from the Grayscale Bitcoin Trust (GBTC), which has been transitioned to a spot ETF, was the primary bearish catalyst, as AMBCrypto previously

Go to Source to See Full Article
Author: Aniket Verma

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details