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TechFlow reported, according to CryptoSlate, Grayscale has transferred 4,000 bitcoins to Coinbase Prime.
Notably, Coinbase serves as the broker and counterparty for nearly all ETF issuers, including Grayscale. Therefore, this transfer likely indicates outflows from trust funds following yesterday's sales.
Although spot Bitcoin ETFs directly track the price of Bitcoin, they do not require issuers to buy or sell Bitcoin in real time during trading hours.
According to CryptoSlate, Grayscale has transferred 4,000 bitcoins to Coinbase Prime. Notably, Coinbase serves as the broker and counterparty for nearly all ETF issuers, including Grayscale. Therefore, this transfer likely indicates outflows from the trust due to yesterday's sales. Although spot Bitcoin ETFs directly track the price of Bitcoin, they do not require issuers to buy or sell Bitcoin in real time during trading hours.
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