Yesterday morning, Grayscale, the owner of the Grayscale Bitcoin Trust (GBTC), sent another 9 thousand BTC to the exchange, as net sales of the product continue after its conversion into a spot exchange-traded fund ETF.
According to Arkham Intelligence, coins moved in batches of 1 thousand and started immediately after the opening of the stock market.
After the SEC approval of the spot Bitcoin ETF last week, Grayscale faced an outflow of assets. Investors have been selling shares of PLAYS for a variety of reasons, including the abolition of the net asset value discount (NAV) and lower fees in competing ETFs.
The outflow led to the fact that Grayscale sold 2,000 BTC last week, and at the moment this number has grown to 11,000. GBTC assets fell to below 610,000 BTC.