The Bitcoin ETFs couldn't handle such a massive influx of money anymore, just like I mentioned last week. They had to adapt! CoinShares reported that for the second consecutive day, net flows for Bitcoin spot ETFs were negative. This could be attributed to increased outflows from Grayscale and decreased demand for new US ETFs.
Traditional investors (think of those in the movie "The Wolf of Wall Street") don't fully trust the cryptocurrency market. Those who got into ETFs were aware of the volatility, but as soon as they saw even a small correction, they felt the adrenaline rush!
Plus, in my opinion, regulated markets will never let ETFs become too attractive, as they could take away interest from other company stocks.
It's all a play on words, isn't it? If you find this world hard to grasp, you should follow the right people so we can lend you a hand ;-)
Facts, not just words! I'll leave you with a screenshot with the data so you can verify the information (in case you have any doubts about what I'm saying).
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