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Digital asset outflows top $6.4B in 5 weeks

We’re cycling back out of Bitcoin ETFs, apparently.

Numbers from CoinShares show $1.7 billion left the digital asset market last week, marking the fifth consecutive week of major outflows, for a total of $6.4 billion.

Bitcoin ETFs are a major culprit. Price depreciation–Bitcoin traded at $93K at the beginning of the year–and investor outflows have brought the ETF AUM back to where it started on January 1: $35 billion.

Of the major ETFs, Grayscale continues to be punished for its comparatively higher fee structure, with over $1.2 billion leaving the investment vehicle year to date, per SoSoValue. BlackRock’s IBIT continues to lead the way, with $2.6 billion in inflows since the start of the year.

Monthly Bitcoin Derivatives Lookback

Missed the latest trends? Luxor’s Monthly Lookback analyzes how Bitcoin derivatives performed — and what miners and traders should watch next.

South Korea’s Central Bank out on Bitcoin reserve

The Bank of Korea has not considered a Bitcoin reserve, citing volatility and lack of compliance with the International Monetary Fund (IMF) - link

Libra ‘facilitator’ Hayden Davis connected to WOLF memecoin

Memecoin rug pull WOLF has been connected to wallets used by Davis for other memecoin launches, Bubblemaps claims. WOLF–referencing stockbroker Jordan Belfort of The Wolf of Wall Street–climbed to $40 million before losing 99% of its value on March 8 - link

Pavel Durov temporarily allowed to leave France

The Telegram co-founder was arrested in August on charges of “complicity in the spread of sexual images of children and other crimes such as drug trafficking on the messaging app.” Durove has flown to Dubai, but was only given temporary leave  – link

North Korea ranks third in Bitcoin HODL by country

The Hermit Kingdom now holds 13,518 BTC worth $1.13 billion, more Bitcoin than El Salvador or Bhutan - link

Cango receives buy out offer from Bitmain-linked fund

Auto-company turned Bitcoin miner Cango received an offer to purchase its Bitcoin mining arm from Antalpha, a company closely associated with Bitmain - link

IREN announces 600 MW grid connection for West Texas site

The Australia-based Bitcoin miner now has over 2.75 GW of energy under contract - link

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