SosoValue data shows that GBTC net outflows totaled more than $450 million on Monday and Tuesday; as of Wednesday, its cumulative outflows over the past three months totaled more than $15 billion.
ContentFi Labs COO Nick Ruck said that the reduction in GBTC outflows is a bullish signal for cryptocurrencies as the continued selling pressure on BTC has eased. (The Block)
Earlier news, Grayscale CEO Michael Sonnenshein believed that GBTC's outflows had reached a balanced level. Sonnenshein said: "We do think that GBTC has begun to reach some balance, and some expected outflows, whether it is (FTX) bankruptcy selling or some investors may swap transactions, are basically a thing of the past."