What is the situation with Bitcoin at Grayscale? Is the selling still ongoing?

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    The week starting on January 29 witnessed substantial growth in the digital assets market, reaching a global total of $53 billion in assets under management, according to insights from alternative asset manager CoinShares. The surge in value was primarily attributed to increased investments in Bitcoin.

    Bitcoin Sell Slows Down in Grayscale

    During this week, the influx into the digital asset market totaled $708 million, with a significant portion, $703 million, flowing into the United States. This marked a notable turnaround from the previous week, which experienced a total outflow of $499.7 million during the week of January 22. Bitcoin played a predominant role, constituting 99% of all market inflows, amounting to $703 million, in contrast to a minor outflow of $5.3 million for BTC.

    Exchange-traded products attracted inflows totaling $8.2 billion, reflecting a slight decline from the previous week’s figure of $10.6 billion. Notably, the United States emerged as a key player with an inflow of $721 million, demonstrating a positive shift compared to the previous week’s outflow of $408.8 million.