Crypto's ETF Hype Slowing Down?
BTC ETFs have their worst day yet.
Record ETF Outflows. Amid the crypto price slump, spot BTC ETFs in America had their worst day on record, posting an all-time high $534M in outflows. Can impending institutional adoption stymie the bleeding?
Outflows from the Grayscale Bitcoin Trust (GBTC) amounted to $167M, a number that roughly aligns with declines from previous trading days. Unfortunately, that is where the similarities with historical spot BTC ETF flows stops…
Not even BlackRock’s IBIT or Franklin Templeton’s EZBC – two ETFs that had yet to go negative – were spared from the drawdown, with yesterday becoming the first day on which every spot BTC ETF experienced simultaneous outflows.
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Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
