Summary
The largest bitcoin fund, GBTC, converted into an ETF and experienced $2.2 billion in net outflows, while new U.S. bitcoin ETFs received $1.8 billion in net inflows. CoinShares’ report shows that crypto-focused funds saw a total of $500 million in net outflows, including global vehicles.
Key Points
1. GBTC, the largest and longest-running bitcoin fund, converted into an ETF from a closed-end structure.
2. GBTC experienced $2.2 billion in net outflows through last week, while newly-opened U.S. bitcoin ETFs saw $1.8 billion in net inflows.
3. Overall, crypto-focused funds endured a net $500 million in exits, including net outflows from global vehicles, according to CoinShares.