GBTC - Bitcoin Rebounds From ETF Outflows Back Above $61K | Benzinga
Bitcoin (CRYPTO: BTC) has bounced from its poor showing in Monday trading and is trading back above $61,000, despite significant net outflows from spot ETFs.
What Happened: At the time of writing, Bitcoin is trading around $61,300, flat over the past 24 hours but up from $59,086 in Monday evening trading.
On June 24, these ETFs recorded a net outflow of $174 million, marking the seventh consecutive day of negative fund flows.
The Grayscale Bitcoin Trust (OTC:GBTC), a major player in the crypto ETF space, bore the brunt of this exodus, with a single-day net outflow of $90.4295 million.
Despite these outflows, the total net asset value of Bitcoin spot ETFs remains substantial ...