Category: NFT News

Crypto Markets Rally Back Despite Sustained Spot Bitcoin ETF Outflows

Spot Bitcoin ETFs have shed $742 million over the past three days.

Digital assets bounced back with strength following a week of downward momentum, with more than half of the top 100 cryptocurrencies posting double-digit gains over the past 24 hours.

Bitcoin (BTC) last changed hands for $67,200, marking a 10% recovery from yesterday’s low of $60,950, according to CoinGecko.

Spot Bitcoin ETFs continue to suffer outflows on March 20 despite the market recovery, with $385.6 million exiting the Grayscale Bitcoin Trust driving a daily outflow of $261.6 million for the sector overall, according to Soso Value. The Invesco Galaxy Bitcoin ETF also hosted an outflow of $10.2 million.

The action marks the second longest streak of consecutive outflows from spot Bitcoin ETF at three, with a record $326.2 million leaving the funds in aggregate on March 19. Grayscale was the sole fund posting an outflow, with investors withdrawing $642.5 million from the ETF.