U.S. Bitcoin ETFs See $1.16 Billion in Outflows Over Three Days
U.S. spot Bitcoin ETFs recorded $1.16 billion in net outflows across three sessions, with Bitwise's head of research calling the move short-term risk aversion.
AfroEuropa Newsroom
AfroEuropa desk
U.S. spot Bitcoin exchange-traded funds registered $1.16 billion in net outflows over three trading sessions as investors trimmed their exposure to the cryptocurrency, according to reporting from BitKE and Cointelegraph.
Citing SoSoValue data, BitKE reported that the funds shed $643 million on Friday, $399 million on Monday, and $116 million on Tuesday. The withdrawals coincided with weaker market sentiment following a Binance hack.
André Dragosch, head of research at Bitwise, linked the outflows to short-term risk aversion rather than a lasting change in institutional sentiment, saying institutions have largely kept their exposure in place. He pointed to a distinction between exchange hot-wallet risks and institutional cold-storage arrangements, noting that institutional ETF holdings remained largely intact.
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