Bitcoin exchange-traded funds (ETFs) recorded yet another day of outflows on Apr. 9.
For comparison, Bitcoin ETFs logged $224.8 million worth of outflows the day before.
On Tuesday, Grayscale’s GBTC ETF experienced significant redness, with a substantial withdrawal of approximately $154.9 million. Yet, this pales in comparison to the massive loss of around $303 million endured just the day prior.
Although BlackRock drew in an impressive $128.7 million during the period, this figure was insufficient to make up for Gradycale’s outflows. However, it’s important to note that BlackRock’s recent inflows fall short of its average inflow rate over the past 28 days, which stood at $277 million.
In simpler terms, Bitwise and Fidelity each brought in relatively small amounts of new investment ($3.8 million for Bitwise and $3 million for Fidelity).
Bitcoin (BTC) is currently sitting just below the $70,000 level on major exchanges.
According to U.Today’s report, renowned Bitcoin critic Peter Schiff has warned that those seeking to launch a Bitcoin ETF could encounter significant legal issues if investors incurred losses.
In the meantime, the Securities and Futures Commission of Hong Kong is set to unveil the roster of Bitcoin spot ETFs on April 16th.
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2024-04-10 10:40