"Massive Crypto Fund Outflows: $1 Billion Vanishes, SEC Targets Ether, and Bitcoin Rebounds"
Originally Published 1 year ago — by Bitcoinist
Nearly $1 billion was withdrawn from global crypto funds, marking a historic departure from a 7-week inflow streak, with major players like BlackRock and Grayscale feeling the impact. The outflows coincided with a notable correction in cryptocurrency prices, leading to decreased trading volumes and asset valuations. While the US market saw over $1 billion in inflows, it was insufficient to offset the nearly $2 billion outflows from Grayscale’s GBTC fund conversion. The global sentiment was mixed, with outflows in some countries and for certain cryptocurrencies, while others saw inflows, sparking a dialogue about the role and accessibility of Bitcoin ETFs in fostering broader market integration.