Grayscale Bitcoin Trust (GBTC) Flows
Is money moving into GBTC or out?
The money added to GBTC or taken out of it each trading day.
Money in or out of GBTC, each trading day
Each bar is one trading day. An orange bar is a day more money came into GBTC than left, a blue bar a day more left than came in. The biggest day for money coming in was $103 million, on Feb 25, 2026. The biggest day for money leaving was $643 million, on Mar 18, 2024.
Inspect and compare dates
Pick two dates to compare the money moving through GBTC on each.
| Measure | Change | ||
|---|---|---|---|
| Money in or out | $0 | $0 | +$0 |
RIGHT NOW
Over the past month, more money has left GBTC than has come in. Money Leaving
How much money has moved lately
Last trading day
Flat
Past week
Flat
Past month
Money left
8 days out, 2 days in
Is that fast or slow, for this fund
How much money has gone into GBTC, next to the other funds
Total money in
Below zero. Since January 2024, more money has left this fund than entered it.
Share of all money in
More money has left than arrived, so this fund holds no share of the money flowed in.
All funds, past month
Money in
Moving against the pack. The funds as a group saw money arrive this month while GBTC went the other way.
How much of GBTC changes hands
Changed hands
What was bought and sold on 22 September 2026. Trading is not the same as money arriving.
That is 3.3% of the trading across the Bitcoin funds that day.
What this means for you
More money is leaving GBTC than arriving.
Over the past month a net $314 million has flowed out of GBTC. It's a lean toward the exit, not a rush.
Money leaving one fund doesn't always mean people are done with Bitcoin. It can simply walk next door to a cheaper or more convenient fund. The all-funds page tells you whether this is one fund losing customers or the whole group selling.
Watch whether it deepens, and whether the other funds are losing money too.
One thing to know about GBTC: it charges higher fees than most of the newer funds, and since the ETFs launched in 2024 it has often moved against the pack. Money leaves here while the other funds take money in. It existed for years before the ETF era, so many of its shareholders are long-time holders cashing out or switching funds, not fresh sellers of Bitcoin.
What to watch from here
- A net $314 million left GBTC this past month. That's a lean toward the exit.
- Whether the other funds are losing money too, or just this one.
- Watch whether the move deepens or turns back to buying.
Understanding
Grayscale Bitcoin Trust (GBTC) Flows
Where it stands today
Grayscale Bitcoin Trust (GBTC) has paid out $27.84 billion more than it has taken in since it launched as of .
$94 million worth of Grayscale Bitcoin Trust (GBTC) changed hands as of .
Money in and out is the dollars people put into GBTC or took out of it. When more people buy new shares than cash theirs in, the fund takes in money and buys Bitcoin with it. When more cash out, it pays them, and gives up coins to do it.
The Each day tab is one bar per trading day: orange when more money came in than went out, blue when more went out. The Running total adds every day up since January 2024, so it climbs while money arrives and falls while it leaves.
The reading at the top of this page judges the past month against GBTC's own history, so a fund that usually moves a little and one that usually moves a lot are each measured by their own yardstick.
The numbers
behind the chart
What does the current reading show?
Money in, running total: the latest reading is −$27.8B, on . The highest reading since is −$95M on ; the lowest is −$27.8B on .
Every dollar in and out of GBTC, added up day by day since January 2024. A day the fund did not trade carries the previous day's total.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Money in, running total | −$27.8B | −$95M | −$27.8B |
How do the readings compare with earlier dates?
| Reference date | Money in, running total |
|---|---|
| 1 month ago | −$27.5B |
| 3 months ago | −$27.1B |
| 6 months ago | −$26.0B |
| 1 year ago | −$24.1B |
| 2 years ago | −$20.1B |
What was the reading at each month’s end?
| Reading date | Money in, running total |
|---|---|
| −$27.6B | |
| −$27.5B | |
| −$27.1B | |
| −$26.6B | |
| −$26.3B | |
| −$26.0B | |
| −$25.9B | |
| −$25.7B | |
| −$25.3B | |
| −$25.0B | |
| −$24.7B | |
| −$24.1B | |
| −$23.9B | |
| −$23.6B | |
| −$23.2B | |
| −$23.2B | |
| −$22.8B | |
| −$22.5B | |
| −$22.3B | |
| −$21.9B | |
| −$21.5B | |
| −$20.5B | |
| −$20.2B | |
| −$20.1B |
Source: Money in and out is the fund's own daily record, read once a day. Reading for .