June 1: ETF Outflows Hit $2.97B
Brief Summary:
Bitcoin opened June weak, trading around $72K and briefly dipping below $72,000.
U.S. spot Bitcoin ETFs have now seen a record 10 straight days of net outflows, totaling $2.97 billion.
Strategy disclosed the sale of 32 Bitcoin for about $2.5 million between May 26 and May 31, its first disclosed BTC disposal.
Strategy still holds 843,706 Bitcoin at an average purchase price of $75,699.
The proceeds from Strategy’s sale are earmarked for preferred-stock distributions, raising questions about how its capital structure interacts with its Bitcoin strategy.
Ethereum is trading…
The skinny
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