The outflows have been significant from funds like Fidelity’s Wise Origin Bitcoin Fund and the Grayscale Bitcoin Trust ETF. Even BlackRock’s iShares Bitcoin Trust, the segment’s asset leader, has only seen slight inflows of about $21 million during this period. When trying to explain these outflows, analysts point to several factors: The lack of near-term catalysts for Bitcoin, upcoming Mt. Gox repayments, miners selling BTC holdings, and the Federal Reserve’s steady interest rates, to name a few. Despite these issues, some analysts remain optimistic about Bitcoin’s long-term potential, but Bitcoin projects remain on the downtrend for now.
RBLK and NEAR See Inflows But Bitcoin ETFs See Another Week Of Huge BTC Outflows
