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Mystery Surrounds $500 Million Outflow From Bitcoin ETF

  • Purpose Bitcoin ETF saw about $500 million in outflows
  • Fund operator declines to comment on client activity
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North America’s first Bitcoin exchange-traded fund is at the center of a crypto-market guessing game after it saw record one-day outflows of $500 million last week. 

The withdrawals from the Purpose Bitcoin ETF (ticker BTCC) equaled about 24,510 Bitcoin, or around 51% of its asset under management on Friday, according to data compiled by Bloomberg and analysts.