The U.S. spot bitcoin Exchange-Traded Funds (ETFs) experienced a net outflow of $319 million over five consecutive days, leading to the second successive weekly outflow from April 15 to April 19, totaling $204 million. The Grayscale Bitcoin Trust ETF was majorly affected with a $458 million outflow, not fully offset by BlackRock iShares Bitcoin Trust and Fidelity Wise Origin Bitcoin Fund which saw inflows of $165 million and $94 million respectively. The outflow streak was interrupted during the bitcoin halving event when the eleven fund segment collectively attracted $60 million in assets, possibly due to a decrease in miners' rewards from 6.25 to 3.125 BTC. Trading volumes for cryptocurrency exchange-traded products fell to $18 billion last week, likely due to expectations of the Federal Reserve maintaining high-interest rates.
Read in-depth analysis on this topic at: https://theweb3.news/crypto/why-did-bitcoin-etfs-experience-their-second-consecutive-week-of-outflows/
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