RIOT - Spot Bitcoin ETFs Bleed Another $58M Mining Stocks Under Pressure | Benzinga
Spot Bitcoin exchange-traded funds (ETFs) saw another net outflow day on Tuesday, totaling $58.03 million in a single day.
What Happened: According to data from SoSoValue, the Grayscale Bitcoin Trust (OTC:GBTC) experienced the largest outflow, with $79.38 million exiting the fund, contributing to its historical net outflow which now stands at a staggering $16.46 billion.
In contrast, BlackRock's iShares Bitcoin Trust (NASDAQ: IBIT) saw the day's highest net inflow, approximately $25.78 million, suggesting a varied investor sentiment within the crypto ETF sphere.
James Seffart, a Bloomberg analyst, provides context to these numbers, noting the commonality of zero flows in the ETF market.
“On any given day, the vast majority of ETFs will report a ...