Mystery Surrounds $500 Million Outflow From Bitcoin ETF
— Nate geraci, Largest cryptocurrency, Meet, Seen net outflows, Market value, Forced seller, View, Research report, Likely caused, First bitcoin exchange — 1 min read
North America’s first Bitcoin exchange-traded fund is at the center of a crypto-market guessing game. The fund saw record one-day outflows of $500 million last week. The selling came as the crypto market went through an intense selloff that carried into the weekend. Bitcoin tumbled as much as 15% to $17,599 on Saturday, the lowest level since late 2020. The largest cryptocurrency by market value is down about 70% from its record high in November, the fund debuted in February 2021. Bitcoin futures and spot ETFs have been popular among investors that are not willing to hold Bitcoin but want to gain that exposure in their portfolios. The US Securities and Exchange Commission has repeatedly rejected requests for a physically-backed Source