Bitcoin Funds Lose $480 Million in a Week, But Grayscale Withdrawals Slowing

Good news is that "outflows are beginning to subside" from Grayscale, says CoinShares.A lot of cash left big Bitcoin funds in the last seven days—which could explain the dip that BTC and most other digital assets took last week.

The good news? Outflows from the largest fund, Grayscale, are now slowing down, according to European digital asset manager CoinShares.

Investors have been fast redeeming their Grayscale holdings since the product converted to an exchange-traded fund (ETF) earlier this month. This led to the price of Bitcoin (BTC) to drop hard as the fund shifted its cryptocurrency to its custodian Coinbase.