Is Grayscale's Bitcoin Trust (GBTC) in trouble? It certainly looks that way. Grayscale's Bitcoin Trust (GBTC) set a new record with 72 consecutive days of outflows, a streak highlighting significant investor unease. This unprecedented outflow, according to U.Today, establishes it as an unusually underperforming global Exchange Traded Fund (ETF) product. The Grayscale Bitcoin Trust (GBTC) has broken an ETF record with its 72-day outflow streak.

While Blackrock's spot bitcoin ETF, IBIT, experiencing a surge in popularity, GBTC continues to bleed assets. What's driving this exodus? A significant part of that optimism was connected to anticipation regarding the launch of spot Bitcoin ETFs, yet GBTC seems to be suffering despite the wider market enthusiasm.

The data is undeniable. The Grayscale Bitcoin Trust (GBTC) has broken a major record, not one to celebrate. This massive outflow contributed to a larger trend, as yesterday, Bitcoin spot exchange-traded funds (ETFs) saw record-high net outflows of $671.9 million – the highest ever reported since they launched in January. This raises questions about the long-term viability of GBTC and its future role in the cryptocurrency investment landscape.

Will Grayscale be able to reverse this trend, or is this the beginning of the end for their flagship Bitcoin Trust? Only time will tell, but for now, GBTC holds the dubious honor of holding the record for the longest outflow streak of any ETF.