Last week they were still scrambling for it; this week they already pulled out.
During the week of 8/9, Bitcoin spot ETF net inflows were 853 million, the strongest week since April. At the time, everyone said institutions were back.
On 8/13, there was a net outflow of 61.10 million. BlackRock: -14.30 million; Fidelity: -46.80 million.
In just four trading days, it went from the strongest to outflows.
Money flows are the result, not the cause.
The speed of the pivot is faster than rebalancing.
Using one week of inflows to say the trend is back, or using one day of outflows to say the trend is over—both are equally wrong.
#BTC☀ $BTC
During the week of 8/9, Bitcoin spot ETF net inflows were 853 million, the strongest week since April. At the time, everyone said institutions were back.
On 8/13, there was a net outflow of 61.10 million. BlackRock: -14.30 million; Fidelity: -46.80 million.
In just four trading days, it went from the strongest to outflows.
Money flows are the result, not the cause.
The speed of the pivot is faster than rebalancing.
Using one week of inflows to say the trend is back, or using one day of outflows to say the trend is over—both are equally wrong.
#BTC☀ $BTC
