Bitcoin ETFs in the U.S. are currently experiencing a net outflow, with a total of $83.6 million leaving the market on the last trading day of the week. Grayscale GBTC, in particular, saw an outflow of $82.4 million, indicating a lack of interest among institutional investors in Bitcoin ETFs at the moment.
This trend can be attributed to various factors, such as monthly options expiry and concerns about inflation, as well as the recent announcement by DTCC regarding collateral values for securities, including ETFs with Bitcoin or other cryptocurrencies as assets. This update caused panic in the financial industry, further dampening investor sentiment.
Bloomberg analyst James Seyffart and Custodia Bank CEO Caitlin Long believe that the DTCC’s announcement on ETFs with Bitcoin exposure having zero collateral value for loans is actually a positive development for the crypto market. Despite the outflows, some experts see this as a healthy correction.
Spot Bitcoin ETFs saw a total net outflow of $83.6 million, with only ARK 21Shares Bitcoin ETF (ARKB) experiencing an inflow of $5.4 million. Other popular Bitcoin ETFs, such as Fidelity Bitcoin ETF (FBTC) and Bitwise Bitcoin ETF (BITB), saw outflows on Friday, continuing a trend of decreased interest in the market.
The overall sentiment in the Bitcoin market remains cautious, with the price of BTC falling over 2% in the last 24 hours. However, some experts, like BitMEX co-founder Arthur Hayes, predict a recovery in the stocks, crypto market, and Bitcoin next week, citing factors such as tax receipts and upcoming announcements from the US Treasury Department.
Despite the current challenges facing Bitcoin ETFs and the broader crypto market, there is still optimism for a potential recovery in the near future. Investors will be closely monitoring market signals and developments to gauge the direction of Bitcoin’s performance in the coming days. The Importance of Regular Exercise
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