Continuing Outflows: April 9 Marks Another Day of Significant Departures from Bitcoin Investment Vehicles”
Another Day of Outflows Recorded on April 9
For comparison, Bitcoin exchange-traded funds experienced outflows amounting to $224.8 million the previous day. Grayscale’s GBTC was naturally responsible for yet another day in the red, posting massive outflows of $154.9 million on Tuesday. This, however, was still not as dramatic as Grayscale’s recorded loss of $303 million on Monday.
BlackRock’s impressive outflows of $128.7 million were not enough to offset Grayscale’s outflows. Nonetheless, the incoming flows remain below the 28-day average flow of $277 million. Bidwise and Fidelity managed to record only minor inflows ($3.8 million and $3 million, respectively).
Read more BCB Group Transfers Crypto Wallets to Metaco’s Digital Asset Custody Platform”
Bitcoin (BTC) is currently trading below the $70,000 mark on major exchanges. Recently, cryptocurrency skeptic Peter Schiff predicted that Bitcoin ETF issuers would face serious legal issues due to the potential losses to investors.
Meanwhile, the Hong Kong Securities and Futures Commission is gearing up to announce the list of spot Bitcoin exchange-traded funds on April 16.
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