GBTC - Spot Bitcoin ETFs Bled Another $162 Million On Tuesday | Benzinga
Bitcoin spot Exchange-Traded Funds (ETFs) experienced a substantial outflow of funds, totaling $162 million on Tuesday, according to financial analytics firm SoSoValue.
What Happened: The Grayscale Bitcoin Trust (OTC:GBTC) alone saw a withdrawal of $93.2277 million, contributing significantly to its historical net outflow of $17.303 billion. Fidelity’s FBTC (BATS:FBTC) bled $35.28 million, while Bitwise’s BITB (BATS:BITB) saw an outflow of $34.31 million. Ark’s ETF ARKB (BATS: ARKB) was the only ETF recording a net inflow, albeit a modest $3.6 million.
Following these developments, the total net asset value of Bitcoin (CRYPTO: BTC) spot ETFs fell below the $50 billion mark, landing at $49.413 billion.