GBTC sees $166M outflows despite CEO’s ‘equilibrium’ remark
The Grayscale Bitcoin Trust (GBTC) continues to experience significant outflows, with over $166 million and more than 2,500 Bitcoin withdrawn from the fund’s holdings on Friday, April 12.
According to Farside Investors data, outflows from GBTC have now exceeded $16.2 billion since its conversion to a spot Bitcoin 
BTCUSD exchange-traded fund (ETF) in January. Throughout April, the daily outflows from GBTC have fluctuated between $75 million and $300 million.
Inflows into other spot Bitcoin ETFs have also slowed, indicating declining investor engagement. GBTC recorded significant outflows of $767 million this week, contributing to the net negative flows from spot Bitcoin ETFs.
BlackRock has maintained strong support, with assets under management for its iShares Bitcoin Trust ETF exceeding $15 billion, narrowing the gap to GBTC.
Grayscale CEO Michael Sonnenshein hinted on April 10 that outflows from the Grayscale Bitcoin Trust might be stabilizing, suggesting optimism among traders and investors, but outflows have continued.
One potential reason behind the massive GBTC outflows is its comparatively high management fee of 1.5%, which is significantly higher than the 0.30% average fee charged by its competitors.