Institutional investors are slowing down their recent Bitcoin buying spree as BTC’s price stabilizes.
For the first time in two weeks, inflows to US spot Bitcoin ETFs turned negative, according to data from firms like Farside Investors.
BTC price action, staying within 10% of its all-time high, is affecting institutional interest. On Oct. 22, US ETF inflows dipped by $79.1 million, primarily due to a $134 million outflow from the ARK 21Shares Bitcoin ETF. In contrast, BlackRock’s iShares Bitcoin ETF (IBIT) still saw $43 million in inflows, but down from $329 million the day before.
WhalePanda noted the sideways BTC movement around $67,000 as a key factor in the ETF fluctuations.
ETFs one of crypto markets’ “biggest stories”
Bitcoin ETFs have had a resurgence, attracting 1,179 institutions this year, according to CryptoQuant’s Ki Young Ju. European investors have also poured over $100 million into these US-based products.
Total assets under management recently hit $65 billion, with net inflows passing $20 billion for the first time. Onchain analytics firm Glassnode highlighted ETFs’ role in boosting liquidity and access to Bitcoin, calling them one of the market’s biggest success stories.
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