Bitcoin ETFs lost ground again as it left the grayscale trust over $302 million

After closing March with a deep and rapid recovery, net flows into Bitcoin exchange-traded funds (ETFs) have started a red week. Investments were negative yesterday with a cost of 85.7 million dollars, according to data from BitMEX Research It shows.

Last Thursday, for the third day in a row, more than 100 million dollars entered the famous new money, which brings the total amount of the week to 845 million dollars.

But the week before that, all Bitcoin Financial monitoring Experienced foreign flowsThe fall in crypto prices was blamed on “investor hesitancy”.

But yesterday, cash continued to flow into all funds – except one: Greyscale's GBTC, which experienced $302.6 million in outflows. The fund was one of 11 Bitcoin ETFs given the green light by the US Securities and Exchange Commission to begin trading in January.

Of all the products, GBTC is the only one that investors consistently spend money on.

This is mostly due to bankrupt crypto companies buying back shares and investors moving to funds with lower fees—Greyscale Entry has the highest fees of all funds.

Although the flow is slowing, yesterday showed that the carnage is far from over.

As a result, the The price of Bitcoin It's down today: The asset is now trading at $65,348 per coin, with a 24-hour swing of nearly 6%, according to CoinGecko data. In mid-March, the asset hit a new all-time high of nearly $74,000.

Edited by Ryan Ozawa.