Global crypto assets report $500 million in weekly outflows

Global crypto funds saw about $500 million in outflows last week, the most since the US Securities and Exchange Commission approved spot Bitcoin ETFs on Jan. 10, according to a CoinShares report.

Grayscale Investments’s spot Bitcoin exchange-traded fund (GBTC), which converted from a trust following the SEC’s decision, led the outflows with $2.2 billion last week. That brings its total outflow since conversion to just over $5 billion as of Jan. 26, according to the report.