Bitcoin continues to surge since spot ETF approval

It was the biggest outflow in a two-week period since U.S. exchange-traded funds approved a bitcoin spot ETF in January. Bitcoin saw outflows of nearly $600 million for the second straight week. It was the biggest outflow in a two-week period since the U.S. exchange-traded funds approved holdings of the largest cryptocurrency in January. Overall, digital asset products saw outflows of $584 million in the week ending June 21, according to CoinShares International data. Bitcoin accounted for the majority, with outflows of $630 million, following $600 million the previous week. Fidelity’s Bitcoin fund saw the biggest outflows of $270 million, while Grayscale’s lost more than $150 million, according to a report by the digital asset manager and crypto research firm. Losses widened across the crypto market on Monday, reflecting cooling demand for bitcoin ETFs and uncertainty over monetary policy. Bitcoin has been in decline for two weeks, falling nearly 4 percent to around $61,100 on Monday.