Bitcoin ETFs See $1.2 Billion Outflows Amidst Price Drop

Institutional investors have withdrawn significantly from Bitcoin ETFs this week, with over $1.2 billion exiting these products amidst a dramatic price drop in Bitcoin. Major players like BlackRock, Fidelity, and Grayscale witnessed significant outflows. The sudden decline, which saw Bitcoin’s price fall to $104,000 from around $115,000, has triggered anxieties regarding the stability of institutional investors in this volatile market.