Grayscale transfers 4,000 BTC to Coinbase Prime and may conduct ETF redemption activities.

According to BlockBeats news on January 12th, Grayscale has started to withdraw Bitcoin from its trust and began sending it to Coinbase at 2 PM Greenwich Standard Time. So far, a total of 4,000 BTC (approximately $200 million) has been sent to Coinbase Prime. Coinbase acts as a broker and counterparty for almost all ETF issuers, including Grayscale. Therefore, this transfer likely represents a fund outflow from the trust yesterday. The last time a fund outflow occurred was about two weeks ago when multiple trades were made in the Grayscale Bitcoin wallet.