From Investing.com: 2024-04-10 09:59:40

Capital flows into spot exchange-traded funds (ETFs) saw a downturn this week, with a $224 million outflow on Monday despite the asset reaching a three-week high. This broke a four-day streak of inflows totaling $570 million. Sales excluding Grayscale’s Bitcoin Trust dropped to $80 million, the lowest since the ETF’s launch.

The decline is attributed to increased GBTC redemptions and slowed investments in “blue chip” offerings, with GBTC outflows exceeding its daily average since launch at -$304 million. Since its transition in January, GBTC has seen total outflows of $15.8 billion representing 48% of its Bitcoin balance pre-spot ETF.

Bitwise emerged as the top asset collector of the day with $40 million in sales, while inflows for iShares Bitcoin Trust and Fidelity’s Fidelity Wise Origin Bitcoin Fund totaled nearly $28 million. BlackRock and Fidelity have received cash for 59 consecutive days among the top 20 all-time in inflows.

Defiance filed for a 2x leveraged futures ETF under ETHL and a 2x leveraged Microstrategy ETF. The decision on allowing options on spot Bitcoin ETFs is postponed by the SEC, requiring approval from multiple regulators with no set timeline.

Read more at Investing.com: Bitcoin ETFs see net outflows of $224 million on 60th trading day By Investing.com