US Spot Bitcoin ETFs Experience Record Outflows, Losing $740 Million In Three Days
Summary
Bitcoin ETFs saw a significant three-day outflow of $742 million, with Grayscale Bitcoin Trust experiencing a $1.4 billion surge in withdrawals. Despite this, GBTC remains a top revenue generator among ETFs. The recent outflows contrast with the overall success of these funds, which have recorded net inflows of $11.4 billion since their launch. Bitcoin surged 5% in the US due to potential interest-rate cuts but lost momentum in the Asian market. Analyst Michael van de Poppe predicts a "massive bounce" for Bitcoin and anticipates a rally towards its all-time high. BTC is currently trading at $66,200, showing consistent gains over various time frames.
