Bitcoin ETFs lose $1.16 billion as Bitwise calls selling short-term
Briefing by News4U · First published
US spot Bitcoin exchange-traded funds recorded more than $1 billion in net outflows over three trading days, with investors pulling another $116 million on Tuesday to bring net outflows since Friday to $1.16 billion, according to SoSoValue data cited by Cointelegraph. Bitwise head of research André Dragosch told Cointelegraph the withdrawals reflected a short-term risk-off environment rather than a structural change in institutional sentiment, following Binance’s $6.3 billion hack on Thursday. He said a Bitwise survey of 15 institutions found none had cut Bitcoin ETF exposure during the bear market, while Tuesday’s outflow slowed from Monday’s $399 million and Friday’s $643 million as Bitcoin traded near $78,000. [1]
Sources
- Bitcoin ETFs lose $1.16B as Bitwise calls selling ‘short-term’
Cointelegraph · · Full text