BlackRock's bitcoin ETF IBIT sees $300M outflow amid rising tech and AI investments in Asia.
BlackRock's bitcoin ETF IBIT experienced a $300 million outflow as demand for bitcoin ETFs declined, with U.S. spot bitcoin ETFs losing a net $231 million on Monday. This outflow contrasts with rising risk appetite in other markets, particularly in Asia, where technology stocks and AI-related sectors are surging. The MSCI Asia Pacific index rose 1%, and South Korea's Kospi climbed 2.1%, driven by strong performances from Samsung and SK Hynix. Investors are favoring AI infrastructure and semiconductor stocks over bitcoin, reflecting a shift in capital towards these growth areas.
BlackRock's bitcoin ETF IBIT experienced a $300 million outflow as demand for bitcoin ETFs declined, with U.S. spot bitcoin ETFs losing a net $231 million on Monday. This outflow contrasts with rising risk appetite in other markets, particularly in Asia, where technology stocks and AI-related sectors are surging. The MSCI Asia Pacific index rose 1%, and South Korea's Kospi climbed 2.1%, driven by strong performances from Samsung and SK Hynix. Investors are favoring AI infrastructure and semiconductor stocks over bitcoin, reflecting a shift in capital towards these growth areas.
What's Your Reaction?
:max_bytes(150000):strip_icc()/GettyImages-2187410260-5afe56694791404f99c253dd8d5abe6a.jpg?#)
