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

K33 Research senior analyst Vetle Lunde stated that the recent outflow of GBTC may be net neutral for the market, and the outflow of GBTC is expected to decrease next week.

He said: "In the past week, Grayscale's fund outflows have accelerated, coinciding with Gemini Earn announcing a settlement principle with Genesis to repay creditors in kind. I tend to think that most of the recent outflows from GBTC are net neutral for the market (selling GBTC shares -> buying spot BTC). As of March 7th, we estimate that Genesis still has 10.4 million shares of GBTC available for sale. Our estimate is based on the average daily outflow of GBTC from February 1st to February 13th, plus daily excess outflows since February 14th.

Based on the rate of outflows, all Gemini/Genesis flows should be cleared by this weekend. If our assumptions are correct, Grayscale should see fund outflows trending towards levels seen at the beginning of February next week, and daily net flows may quickly hinder sentiment from turning positive."