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Bitcoin ETF Momentum Slows? Recent Net Outflow for the First Time
Grayscale Actively Transforms, Submits Anonymous Coin ETF
Bitcoin ETF Momentum Slows? Recent Net Outflow for the First Time
According to BitMEX Research and Farside Investors data, Bitcoin ETF experienced a net outflow of $79.9 million on January 25, followed by another net outflow of $35.7 million, breaking the record of 17 consecutive trading days of net inflow.
In comparison, the average net inflow of the five trading days prior to February 16 was around 7,000 bitcoins, valued at approximately $454 million.
The net outflow mainly came from Grayscale’s GBTC, with around 3,877 bitcoins being withdrawn.
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BlackRock’s IBIT and Fidelity’s FBTC continue to be the main contributors to net inflow, with a total increase of nearly 3,000 bitcoins.
Grayscale Actively Transforms, Submits Anonymous Coin ETF
It was expected that Grayscale would transform all its closed-end funds into ETFs, but it was unexpected that they would first apply for an ETF for the anonymous coin ZEC instead of a major competitive coin.
However, Nate Geraci, co-founder of The ETF Institute, quoted documents stating that he believes it is a wise move for Grayscale to expand its ETF product lineup.
Previously reported, both Binance and OKEx chose to delist various anonymous coins, but did not specify the exact reasons.
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Binance delists privacy coin Monero (XMR), cross-chain bridge coin MULTI, and other well-known currencies, the end of different era narratives
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