The outflows are the largest since a record of nearly $1 billion during the third week of March as bitcoin fell back from its all-time high.
Global crypto investment products at asset managers such as Ark Invest, Bitwise, Fidelity, Grayscale, ProShares and 21Shares registered a third-consecutive week of net outflows totaling $435 million last week, according to CoinShares' latest report.
Most of the outflows were from the incumbent Grayscale, which converted its Bitcoin Trust product into a spot bitcoin exchange-traded fund in January. Grayscale’s GBTC contributed $454.1 million in outflows last week alone. However, this was the lowest level for nine weeks, Butterfill pointed out. BlackRock’s IBIT spot bitcoin ETF witnessed three days of zero flows last week as its 71-day inflow streak — putting it in the top ten ETFs of all time — came to an end. Fidelity’s FBTC and Valkyrie’s BRRR also witnessed their first daily outflows last week.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto’s march toward mainstream acceptance: Interview with Changelly CEOExploring the intersection of technology and user engagement, the CEO of a global crypto exchange outlines strategies for integrating new blockchain trends and enhancing digital asset exchanges
Read more »
Crypto Market Update: Ethereum's March Towards $3,600This article analyzes the recent price movements of Ethereum and its potential to bounce back from recent declines. Breaking through the $3,600 barrier is crucial for Ethereum to maintain positive momentum.
Read more »
Crypto Venture Capital Fundraising Jumped Over 50% in March Amid RallyHelene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Read more »
Crypto VC funding surged 53% in March, Optimism wins largest shareVenture capital funding reached $1.16 billion in March, jumping over 50% from February, with monthly deal numbers also at a nearly two-year high.
Read more »
March saw a month-over-month decrease in crypto hacks: PeckShieldMore than $187 million was lost due to hacks in the crypto space in March, while nearly $99 million was recovered.
Read more »
Crypto-to-crypto swaps, explainedCrypto swapping enables users to easily exchange one currency for another on centralized and decentralized exchanges.
Read more »