Crypto
Bitcoin Sees Heaviest ETF Outflow Since June Amid Senate Rejection
The Bitcoin (BTC) market has seen its largest ETF outflow since June after the Senate's rejection of a proposed cryptocurrency regulation bill.
According to data, there was a significant withdrawal of $1.2 billion from the ProShares Bitcoin Strategy ETF (BITO), marking the heaviest outflow in six months.
The news comes as a response to the Senate's failure to pass the 'Lummis-Gillibrand Responsible Financial Innovation Act', which aimed to provide regulatory clarity for cryptocurrencies and digital assets.