GBTC - Bitcoin Back Above $67K Despite $226M ETF Outflows On Thursday | Benzinga
Bitcoin spot exchange-traded funds (ETFs) saw a significant outflow of capital on June 13, continuing its volatile trading behavior this week.
What Happened: The total net outflow for these ETFs amounted to $226 million, raising questions about investor sentiment towards the leading cryptocurrency, according to data from SoSo Value.
Grayscale’s Bitcoin Investment Trust (OTC:GBTC) bore the brunt of the outflow, experiencing a single-day net redemption of $61.53 million.
This suggests that institutional investors may be hesitant towards Bitcoin in the current market climate.
However, a single bright spot emerged with BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) experiencing a net inflow of $18.23 million.
This could indicate a more nuanced approach from some investors, seeking alternative avenues for Bitcoin exposure.
Bitcoin still crept up to $67,000 in early ...