Grayscale Bitcoin ETF dump over? 📊

Grayscale Bitcoin Trust withdrawals on Wednesday dropped to their lowest daily level since the fund was converted into a spot Bitcoin ETF in January.

Author

Stephen Graves
April 11, 2024

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📝 What you need to know

Since its conversion to a spot Bitcoin ETF in January, the Grayscale Bitcoin Trust has seen consistent daily outflows. But on Wednesday, they dropped to their lowest daily level to date, lending weight to CEO Michael Sonnenshein’s argument that flows were reaching “equilibrium.”

Elsewhere, the U.S. SEC sent a Wells Notice to DeFi giant Uniswap, indicating that the firm behind the popular DEX faces a lawsuit over securities charges.

📰 Top Stories

Grayscale Bitcoin Trust Withdrawals Hit Record Low—Has the Selling Stopped?

Grayscale’s Bitcoin outflows slowed on Wednesday, though on-chain analysis suggests the fund may still bleed coins for the duration of the bull market.

Ethereum Giant Uniswap Is Getting Hit With an SEC Lawsuit, Company Warns

Uniswap founder Hayden Adams said Wednesday that the SEC has sent a Wells notice to Uniswap Labs, suggesting enforcement will follow.

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Bitcoin Price Recovers on Biden's Optimism the Fed Will Lower Rates 'This Year'

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💬 Quote of the Day

❝

I’m not surprised. Just annoyed, disappointed, and ready to fight.

- Hayden Adams, Uniswap founder

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