Neuralink, Elon Musk's brain-machine interface company, is facing scrutiny over its safety procedures, prompting four U.S. lawmakers to request an investigation by the Securities and Exchange Commission (SEC). Musk's statement in a now-deleted X post from September 10, 2023, claiming that "no monkeys have died from Neuralink implants," is alleged to be a deliberate misrepresentation aimed at misleading investors. The Physicians Committee for Responsible Medicine informed the SEC that at least 12 baby monkeys were euthanized due to severe health issues linked to Neuralink implants.
CoinShares reported that the second full week of U.S. spot Bitcoin ETF trading resulted in almost $500 million in outflows. Additionally, nine new spot Bitcoin ETF inflows reached nearly $1.8 billion. However, this did not compensate for losses in Grayscale's converted spot Bitcoin ETF GBTC, which experienced outflows exceeding $2.2 billion during the same week. GBTC, which historically offered profitable trades to investors through leveraging, witnessed a shift in premiums to discounts in February 2021.
Despite the decline in GBTC outflows and the decrease in total daily outflows, Grayscale's GBTC has lost $5 billion this month. The newly issued spot Bitcoin ETF, launched on January 11, has seen cumulative inflows of $5.94 billion into Bitcoin products. The data reveals that following GBTC's transition to a spot Bitcoin ETF, the discount dropped from 1.55% to 0% on January 26. Investors, facing a minimum six-month lock-up period for GBTC shares, find themselves trapped in the fund, contributing to its decline as discounts deepen.
