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Bitcoin ETFs continue to bleed as Galaxy CEO warns bitcoin treasuries “have peaked”
itcoin ETFs had their fourth day of outflows, with $196 million leaving the funds. Fidelity Wise Origin Bitcoin Fund and BlackRock’s iShares Bitcoin Trust saw $99.1 million and $77.4 million in outflows, respectively, SoSoValue data shows. Bitcoin is struggling to regain momentum, trading around $113,000 this morning. Meanwhile, Galaxy Digital’s CEO Mike Novogratz warned in an earnings call yesterday that “we’ve probably gone through peak treasury company issuance of new companies.” He added, “What will be most interesting is which of the existing companies become monsters, right?” Options traders are ... (full story)