Bitcoin exchange-traded funds (ETFs) have seen a streak of 14 consecutive days of inflows, while Ark Invest has decided to abandon its plans for an Ethereum (ETH) ETF. The decision comes as Bitcoin experienced a significant outflow of $100 million.
The trend of inflows into Bitcoin ETFs indicates a growing interest and confidence in the leading cryptocurrency among investors. This continuous positive movement suggests that more institutional and retail investors are looking to gain exposure to Bitcoin through regulated investment vehicles.
On the other hand, Ark Invest’s decision to pull the plug on an ETH ETF reflects the challenges and uncertainties surrounding the regulatory environment for cryptocurrencies. The company cited concerns over the lack of clarity and regulatory hurdles as reasons for abandoning its plans.
Despite this setback for Ethereum, Bitcoin remains the preferred choice for investors seeking to diversify their portfolios with digital assets. The recent outflow of $100 million from Bitcoin may indicate some profit-taking or short-term market fluctuations, but the overall trend of inflows into Bitcoin ETFs suggests a positive outlook for the cryptocurrency in the long run.