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Bitcoin ETF outflows reach $1.3B as price falls
United States spot Bitcoin exchange-traded funds (ETF) see $1.3 billion outflows as Bitcoin price falls 11.6% over two weeks.
Farside Investors reports that the total outflow for Bitcoin ETFs reached $1.298 billion during this period, with Grayscale leading the exodus at $517.3 million. Interestingly, BlackRock’s Bitcoin ETF stands out as the sole fund reporting positive results, attracting $43.1 million in inflows over the same timeframe. Despite short-term challenges, de Wet maintains a bullish long-term outlook, citing the expected Ethereum ETF launch and potential easing of monetary policy towards the end of 2024 and into 2025.
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