K33 Research analyst: It is expected that the outflow of GBTC will decrease next week

ChainCatcher news, K33 Research senior analyst Vetle Lunde stated on X that the recent outflows from GBTC may be net neutral for the market, and GBTC outflows are expected to decrease next week.

He stated: "The accelerated outflows from Grayscale over the past week coincided with Gemini Earn announcing a principle agreement with Genesis to repay creditors in kind. I tend to view it this way: most of the recent outflows from GBTC are net neutral for the market (selling GBTC shares -> buying spot BTC). We estimate that as of March 7, Genesis has 10.4 million shares of GBTC left to sell. Our estimate is based on the average daily outflow of GBTC from February 1 to February 13, plus the daily excess outflow from February 14 to the present.

Based on the outflow rate, all Gemini/Genesis flows should be cleared by the end of this weekend. If our assumption is correct, Grayscale should see outflows trend towards the levels seen in early February next week, and the daily net flow could quickly hinder sentiment from turning positive to negative."