JPMorgan reports GBTC sell declining, highlights ETF record outflows
JPMorgan reports GBTC sell declining, highlights ETF record outflows Analysts at JPMorgan have indicated a potential easing in the selling pressure on Bitcoin, as the bulk of profit-taking from the Grayscale Bitcoin Trust (GBTC) appears to be concluding. In a market report released on Jan. 25, a team led by Nikolaos Panigirtzoglou, JPMorgan‘s market strategy managing director,“GBTC profit taking has largely happened already.” The assessment suggests that the primary factors influencing Bitcoin’s price fluctuations, specifically those linked to GBTC, might be diminishing. Grayscale‘s fund has been trading below its net asset value since early 2021. Analysts attribute the $4.3 billion in outflows since its Jan. 11 conversion to an ETF to investors cashing in on earlier GBTC investments. This is seen as a key factor in Bitcoin’s near 20% price fall, with its value now below $40,000, coinciding with the introduction of several US Bitcoin ETFs. Notably, on Jan. 24, these funds experienced a record high in daily net outflows, reaching $158 million, as reported by BitMEX research data. This was the highest single-day net outflow since these ETFs began trading. On Jan. 24, Grayscales ETF experienced outflows amounting to $429 million. Following this, BitMEX дата revealed a decrease in outflows to $394 million on









