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Bitcoin ETFs Continue Bleeding, Lose $552 Million Last Week
In a shocking turn of events, the 11 Bitcoin ETFs have been unable to stop their bleeding, suffering a collective loss of $552 million in just one week. This staggering figure highlights the turmoil that has beset the cryptocurrency market recently.
As reported, the outflows from these funds were severe and relentless, with even the usually stable Grayscale’s GBTC losing an astonishing 60.1 million dollars. This loss was followed closely by Bitwise BITB, which shed a further $16.6 million in assets. The Fidelity-owned FBTC also saw significant losses, dropping a total of $12.5 million.
On the other hand, Blackrock’s IBIT managed to buck this trend somewhat, receiving a modest influx of funds totaling $21.6 million. Vaneck Hodl also reported a minor increase, with investors injecting a paltry $4.7 million into its coffers.
It is worth noting that the Bitcoin ETFs have experienced considerable losses in recent weeks, with many experts predicting further turbulence ahead.
