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Global Crypto Assets Report $500 Million in Weekly Outflows
Global crypto funds saw about $500 million in outflows last week, the most since the US Securities and Exchange Commission approved spot Bitcoin ETFs on Jan. 10, according to a CoinShares report. Grayscale Investments’s spot Bitcoin exchange-traded fund (GBTC), which converted from a trust following the SEC’s decision, led the outflows with $2.2 billion last week. That brings its total outflow since conversion to just over $5 billion as of Jan. 26, according to the report. The fund’s 1.5% management fee — the highest of any of the spot Bitcoin ETFs on the market — is partially responsible for recent ... (full story)