Crypto
Bitcoin ETF Rebound Fizzles as Funds Suffer Net Outflows
The recent rebound in US spot Bitcoin funds has been short-lived, as data shows that the group lost $131.1 million in net outflows on August 13. This brings the total to $332 million in net outflows across four sessions through August 13.
Morgan Stanley's Bitcoin Trust and Grayscale's Bitcoin Mini Trust ETF were the only two US spot Bitcoin funds to attract capital on August 13, offsetting part of a broad withdrawal. Morgan Stanley added $7.1 million, while Grayscale's smaller Bitcoin fund took in $38.9 million.
The divergence was particularly sharp within Grayscale's own lineup, with GBTC losing $36.3 million but the Mini Trust's inflow being large enough to leave the two products a combined $2.6 million positive for the day.