GBTC - Bitcoin ETF Outflows Continue For Second Straight Week | Benzinga
A new report reveals a decline in investor appetite for digital asset investment products, with outflows totaling $206 million for the second consecutive week.
What Happened: This trend coincides with a decrease in trading volumes for Exchange Traded Products (ETPs) to US$18 billion, according to a report from Coinshares.
The data suggests a potential shift in sentiment among ETP and ETF investors.
The lower volume percentage compared to total Bitcoin (CRYPTO: BTC) volumes, which are currently rising, might be a response to expectations of the FED maintaining high interest rates for longer than initially anticipated.
This could be impacting investor willingness to enter the market through these vehicles.
The negative sentiment seems primarily focused on U.S. ETFs, with $244 million in outflows.
Established ETFs are bearing the brunt of this trend, while newly launched ones continue to see ...