Bitcoin Bloodbath: Grayscale ETF Sees Record $642.5 Million Outflows, Investors Panic as Asset Losses Mount
New York, NY – The Bitcoin market experienced a significant selloff on Tuesday, with Grayscale’s Bitcoin Trust recording record outflows. This resulted in accelerated losses for the fund since its conversion into an exchange-traded fund earlier this year. BitMEX Research reported that Grayscale’s ETF saw a daily outflow of $642.5 million on Monday, coinciding with a 4% drop in Bitcoin’s value. By mid-afternoon Tuesday, the cryptocurrency had fallen an additional 2%, although it managed to …