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More bitcoin ETFs offer yield — but where is it coming from?

Fund managers like Proshares and Grayscale are announcing interest-bearing spot bitcoin ETFs that promise generous dividends.

Bitcoin drops $60B from market cap as investors shuffle funds into ETFs

Despite over $10 billion in trading volume and SEC approval of 11 bitcoin ETFs, bitcoin itself has lost tens of billions of dollars.

In two days of trading last week, the new SEC-approved spot bitcoin ETFs attracted approximately $819 million of net new cash inflows.

Many cryptocurrency stocks fell following approval of the new spot-based bitcoin ETFs in the US, including MicroStrategy and Coinbase.

In her criticism of the approved Bitcoin ETFs, Crenshaw focused on fraudulent information, wash trading, and reasoning by ETF sponsors.