GRAYSCALE IS SENDING BITCOIN TO COINBASE IN $500 MILLION CLIPS—HERE’S WHY

Summary from the TLDR Crypto newsletter

Grayscale's Bitcoin ETF has been seeing massive outflows, reaching over $2.2 billion last week, causing downward pressure on the crypto market. Analysts suggest that some Grayscale holders are just shifting to the other lower-cost providers, while others are cashing out. Other Bitcoin ETFs are instead seeing inflows, with BlackRock's iShares Bitcoin Trust recording $1.2 billion in total inflows.