Bitcoin ETF Outflows Reflect Market Caution Amidst Institutional Shifts

Investor withdrawals from U.S.-based Bitcoin ETFs reached over $1.22 billion this week, signaling a shift in market sentiment following the price drop of crypto assets. This move underscores the growing caution among institutional investors regarding Bitcoin-centric products like iShares Bitcoin Trust Fund’s recent exit of $268.6 million on Friday alone. Factors behind these outflows include a significant drop in Bitcoin’s price, which has seen its value plummet from near $110,000 to $104,000 throughout the week.