BlackRock clients withdraw $202M from Bitcoin ETF, shifting funds to Ethereum ETFs.
BlackRock's Bitcoin ETF (IBIT) saw a $202 million outflow as institutional investors reallocated capital into spot Ethereum ETFs, with BlackRock's Ethereum fund gaining $11.39 million. Despite the outflows, Bitcoin's price remained stable above $65,400, showing resilience amid a tech sector sell-off in the U.S. market. This shift indicates a controlled rotation within crypto portfolios rather than an exit from the market. Analysts remain divided on Bitcoin's near-term direction, with some optimistic about a price rebound and others cautious about potential declines if outflows continue.
BlackRock's Bitcoin ETF (IBIT) saw a $202 million outflow as institutional investors reallocated capital into spot Ethereum ETFs, with BlackRock's Ethereum fund gaining $11.39 million. Despite the outflows, Bitcoin's price remained stable above $65,400, showing resilience amid a tech sector sell-off in the U.S. market. This shift indicates a controlled rotation within crypto portfolios rather than an exit from the market. Analysts remain divided on Bitcoin's near-term direction, with some optimistic about a price rebound and others cautious about potential declines if outflows continue.
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