โ BTCUSDT ETF UPDATE ๐
Recent Trends:
Bitcoin ETFs, including GBTC, have experienced four consecutive days of net outflows. On March 21 alone, GBTC saw outflows of $358.8 million, contributing to a total outflow of $1.8 billion for the week. ๐ธ
Reason Behind Outflows:
Senior Bloomberg ETF analyst Eric Balchunas suggests that much of Grayscale's outflows might soon stop. He attributes the recent outflows to bankruptcies of crypto firms, which have been significant and consistent in size. ๐
Optimistic Outlook:
Balchunas believes that the worst might be over soon. Once the bankruptcies are settled, only retail investors will remain, and the flows should stabilize, resembling the trickle seen in February. ๐ผ
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$BTC
