Bitcoin’s price action was supported by last week’s strong inflows into spot bitcoin ETFs, attracting over $1.1 billion net fresh funds amid slowing outflows from incumbent funds such as Grayscale Bitcoin Trust (GBTC) and ProShares’ futures-based ETF (BITO), asset management firm CoinShares reported Monday. However, potential selling pressure from Genesis, a crypto lender under bankruptcy protection, liquidating its $1.6 billion worth of GBTC holdings could weigh on ETF net inflows and prices in the next months, the report added.
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