Grayscale transfers another $579 million worth of Bitcoin to Coinbase Prime, while GBTC continues to see outflows.

According to Arkham data, Grayscale transferred 14,487 BTC (approximately $579 million) to Coinbase Prime on the evening of 1/24; and transferred 4,750 BTC (approximately $189.8 million) to a new wallet.

According to Arkham data, Grayscale moved around 14,487 BTC, approximately $579 million, to Coinbase Prime on the evening of 1/24; and transferred about 4,750 BTC, roughly $189.8 million, to a new wallet.

Since the ETF approval, GBTC has transferred a total of 93,700 BTC, approximately $3.85 billion, to Coinbase Prime.

Grayscale deposited 14,487 $BTC($579M) to #CoinbasePrime and 4,750 $BTC($189.8M) to new wallets again 10 mins ago.#Grayscale has deposited 93,700 $BTC($3.85B) to #CoinbasePrime since the #ETF was passed.

And currently holds 519,399 $BTC($20.84B).https://t.co/M98mT25tml pic.twitter.com/ghbpPGeTxi

— Lookonchain (@lookonchain) January 24, 2024

Looking back at the previous trading day, due to the significant outflow from GBTC, the eighth consecutive day still showed a net outflow of $106 million for the overall ETF.

Update for the #Bitcoin ETF Cointucky Derby.

$515 million came out of $GBTC yesterday for a total of $3.96 billion in outflows since converting to an ETF. Newborn 9 saw +$409 million flow in. Net outflows in total for yesterday were -$106 million. pic.twitter.com/gzymMHHua8

— James Seyffart (@JSeyff) January 24, 2024