GBTC - Spot Bitcoin ETFs See $36M Net Outflows Grayscale Bleed Continues | Benzinga
Investors appear to be exercising caution in the crypto market, with data revealing significant outflows from Bitcoin spot ETFs on Monday.
What Happened: The total net outflow amounted to $36.67 million, highlighting a hesitant sentiment despite a brief Asian rally, according to data from SoSoValue.
Amid these outflows, the Grayscale Bitcoin Trust (OTC:GBTC) reported a staggering $110 million withdrawal, marking a continued trend that has seen its historical net outflows reach $16.38 billion.
Conversely, BlackRock‘s iShares Bitcoin Trust (NASDAQ: IBIT) experienced a substantial influx, with a net inflow of $73.40 million, suggesting diverging investor confidence within the crypto ETF space.
These fund movements occur against a backdrop of fluctuating market conditions.
Over the weekend, Bitcoin‘s (CRYPTO: BTC) price initially surged to nearly $67,000, buoyed by news of ...