"Institutional Outflows: Bitcoin ETF and Crypto Funds See Record Withdrawals"

Grayscale Bitcoin Trust saw $1.9 billion in outflows last week, leading U.S. spot bitcoin exchange-traded funds into net outflows, despite buying interest in new funds from BlackRock and Fidelity Investments. Grayscale's outflows were attributed to higher fees compared to rivals and selling by bankruptcy trustees, prompting the firm to consider fee cuts. In contrast, BlackRock's iShares Bitcoin Trust witnessed significant gains, reaching $10 billion in assets, while Wealthfront opted to replace Grayscale's ETF with the iShares fund due to its low fee and high trading volumes. The price of bitcoin remains about 9% below its peak, impacting ETF flows, with the key to revival potentially lying in more stable prices and increased institutional investor interest.