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NEW YORK - Grayscale Trust ETF has transferred $41 million worth of Bitcoin to an exchange platform yesterday, as the cryptocurrency's price experienced a downturn. The movement of funds by the exchange-traded fund (ETF) comes at a time when Bitcoin's value fell to $42,719.

The transfer has raised questions about its potential influence on the redemptions of Grayscale's Bitcoin Trust (GBTC).

Grayscale has not provided a comment on the transfer or its timing in relation to the Bitcoin price drop. However, the correlation between the transfer and the dip in Bitcoin's price has become a point of discussion among market participants, who are monitoring the situation to gauge the ETF's strategy and the possible effects on Bitcoin's liquidity and market stability.

https://www.investing.com/news/cryptocurrency-news/grayscale-trust-etf-moves-41-million-in-bitcoin-amid-price-drop-93CH-3274098