The investment bank estimates preliminary net sales of U.S. spot Bitcoin ETFs of ~$ $132 million on Thursday, March 14, the group’s 44th day of trading.
“Daily gross flows (excl. GBTC) were $389mn, a significant step down from the record >$1.1bn daily gross flows seen just a few days ago,” said analysts.
“Nonetheless, the group still reported the largest week of inflows since launch totaling ~$2.6bn of net sales (incl. GBTC) and $4.0bn of gross sales (excl. GBTC) for the 5 trading days ended March 14.”
The bank noted that Grayscale’s GBTC redemptions were -$257mn yesterday, while they also said BlackRock (NYSE:BLK)’s IBIT accounted for nearly 90% of the gross flows recorded yesterday as “many other issuers saw significantly more muted flow.”
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