Report: If funds flow out at the current rate, Grayscale will run out of assets by the end of July

Author: Jesse Coghlan, CoinTelegraph; Compiler: Deng Tong, Golden Finance

US spot Bitcoin exchange-traded funds (ETFs) witnessed the largest single-day outflow on record on March 19 , 10 funds had a total outflow of US$326 million.

As of March 19, Grayscale reports that its Bitcoin Trust (GBTC) has over $23.7 billion in assets under management Dollar. If money continues to flow out at the current pace, it could run out of assets as soon as the end of July.

According to data from Farside Investors, Grayscale’s GBTC had a net outflow of 443.5 million that day In U.S. dollars, BlackRock, Fidelity and Bitwise ETFs were the only funds to post net inflows.

The three funds combined generated $117.3 million in net inflows, the second-lowest inflow day among the nine new Bitcoin ETFs (excluding GBTC).

BlackRock's iShares Bitcoin Trust (IBIT) had the day's largest net inflows at $75.2 million, while the Fidelity Wise Origin Bitcoin Fund (FBTC) saw net inflows of $39.6 million .

The Bitwise Bitcoin ETF (BITB) attracted just $2.5 million in net inflows — its lowest day on record — excluding days with zero new inflows.

Flows for all 10 US spot Bitcoin ETFs, with March 19 highlighted in the green row. Source: Farside Investors

ETF outflows more than doubled the previous record outflow day ($158.3 million on January 24) and marked the second consecutive day of net outflows from the fund .

The massive outflows came as Bitcoin prices fell to $62,400 during U.S. trading on March 19 and continued to fall after hitting an all-time high of $73,835 on March 14.

In the past 24 hours, Bitcoin has fallen 5.4% and is trading at $61,173, just above the intraday low of $60,872, according to data from Cointelegraph Markets Pro.

March 18 was the day with the largest net outflow of GBTC, reaching $642.5 million. Overall, the fund has seen outflows of nearly $12.9 billion in the 49 trading days since it switched from a trust to an ETF on Jan. 11.