Bitcoin News
By Evie Vavasseur
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Warsh's Fed Debut Sets the Tone. The timing matters. June 17 was Kevin Warsh's first Federal Open Market Committee meeting as Fed…
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Why GBTC Fees Don't Fully Explain the Outflows. Here's where it gets complicated. GBTC carries a 1.50% fee structure — the highest in the peer…
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In-Kind Redemptions Add Another Layer. There's a wrinkle worth flagging. The SEC approved in-kind creations and redemptions for crypto…
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U.S. spot Bitcoin ETFs hit a rough patch on June 17. Net outflows came in at $82.2 million — but the story underneath that number is messier and more interesting than the…
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Not every fund bled. Fidelity's FBTC pulled in $14.0 million, and MSBT added $4.1 million. But ARK Invest's ARKB lost $43.5 million, BlackRock's IBIT shed $30.
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The timing matters. June 17 was Kevin Warsh's first Federal Open Market Committee meeting as Fed Chair, and the central bank held the federal funds rate steady between 3.50% and 3.
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Bitcoin felt it. The price sat near $63,918 on June 18, down about 1.14% over the prior 24 hours. Not a collapse, but a clear lean toward caution.
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And the ETF flows basically told the same story in a different language.
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Here's where it gets complicated. GBTC carries a 1.50% fee structure — the highest in the peer group — and it's been bleeding assets for a while now. Easy enough to explain.
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Something else is driving these decisions. Probably a mix of things — platform relationships, liquidity profiles, how different institutional desks think about risk on a day when…
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What's clear is that investors aren't treating all Bitcoin ETFs as interchangeable. They're picking winners and dumping others, sometimes on the same afternoon.
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More context: Iran-US Nuclear Deal Puts Bitcoin and Oil Markets on a 60-Day Clock
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There's a wrinkle worth flagging. The SEC approved in-kind creations and redemptions for crypto exchange-traded products in July 2025, and that changes how you read some of these…
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So not every dollar of outflow from ARKB or IBIT is a dollar of Bitcoin hitting the bid. Some of it probably is. Some of it isn't.
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It's basically a reminder that ETF flow headlines can mislead if you take them at face value.
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