Record US Bitcoin ETF Outflow Buffets BlackRock, Fidelity Funds
US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023.
US spot-Bitcoin exchange-traded funds suffered their largest daily outflow as the digital token heads for its worst week since August 2023.
Crypto’s boom-and-bust nature already has some investors and analysts looking past what should be blowout first-quarter results for Coinbase Global Inc.
Bitcoin’s tumble is piquing the interest of investors who view pronounced swings in the digital token as a possible precursor for broader changes in risk appetite in global markets.
Prices of some of the biggest spot-Bitcoin exchange-traded funds closed Tuesday at their largest discounts to the value of their underlying assets since they were launched.
The prospect of higher-for-longer interest rates is weighing on crypto, underlined by deepening Bitcoin losses after the token’s worst monthly drop since the collapse of Sam Bankman-Fried’s FTX empire in November 2022.
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