Largest Bitcoin ETF’s Slowing Outflows Lift Some Recent Crypto Gloom
- Pace of exits from the largest Bitcoin fund has begun to cool
- Digital asset snaps a slide that began when US ETFs went live
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Bitcoin briefly climbed past $42,000 amid a slowdown in outflows from the $20 billion Grayscale Bitcoin Trust that strategists said may help to stanch a two-week slump in the token.
About $4.8 billion has exited the more than decade-old Bitcoin portfolio — the world’s largest — since it became an exchange-traded fund on Jan. 11, data compiled by Bloomberg show. Bitcoin had shed around 20% in the same period.