Grayscale Bitcoin Trust (GBTC) — Bitcoin ETF Flows
Is Money Moving Into GBTC or Out?
Grayscale's long-running trust, now trading as an ETF. This page tracks this fund alone, then compares it with the full US Bitcoin fund group.
The running total of money in and out of GBTC since January 2024. It sits below zero — over its whole ETF life, more money has left this fund than entered it.
Latest displayed reading: -$27,415,392,397 on Jul 24, 2026. This view shows 635 dated readings from Jan 11, 2024 to Jul 24, 2026. The latest displayed reading is lower than the first. The displayed low is -$27,415,392,397 on Jul 22, 2026. The displayed high is -$95,100,000 on Jan 11, 2024.
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Arrow keys move one plotted point. Home and End jump to the first and latest points.
- Running total of money in and out of GBTC (selected): -$27,415,392,397
Is money moving into GBTC or out?
Money LeavingMore money is leaving GBTC than coming in.
How much money has moved lately?
$0Last trading dayFlat−$84MPast weekMoney left−$273MPast month6 days out · 1 days inMoney leftIs that fast or slow, for this fund?
A quieter month than usual for GBTC — only 29% of its history saw less money move.
How big is GBTC next to the other funds?
−$27.4BAll-time money inBelow zero — more money has left this fund than entered it over its ETF life.—Share of all money inMore money has left than arrived, so this fund holds no share of the money flowed in.−$1.4BAll funds, past monthMoney leftMoving with the pack — the funds as a group also saw money leave this month.
What does this mean for you?
More money is leaving GBTC than arriving.Over the past month a net $273 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 leaving 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 $273 million left GBTC this past month — 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)
Grayscale Bitcoin Trust is one of the US Bitcoin ETFs — stock-market funds that hold real Bitcoin on behalf of their shareholders. It's run by Grayscale. When money comes into the fund, it buys Bitcoin; when money leaves, it sells. You buy and sell its shares through a normal brokerage account, like any stock.
This page tracks the money flowing in and out of this one fund, and the big chart shows the running total of everything invested in it since January 2024. The percentages and “faster than usual” readings compare the fund against its own history, not against the other funds.
A single fund's numbers mix two things: how people feel about Bitcoin, and how this fund competes with the other twelve — fees, brand, and where it's easiest to buy. Money can leave one fund and walk straight into a cheaper one next door without anyone actually selling Bitcoin. For the market-wide read, start from the main Bitcoin ETF page.
These funds trade on the stock market, so they're closed on weekends and holidays — flat stretches on the chart are days the market wasn't open, not days nothing happened to Bitcoin.