It seems like the cryptocurrency world is always full of surprises! A major player in the market, BlackRock, experienced its largest outflows in months, ending its streak of inflows into their Bitcoin exchange-traded fund (ETF). This news comes just days after the ETF posted an outflow of $72.7 million on December 20th, which is the highest on record for them.
Interestingly enough, Fidelity’s Wise Origin Bitcoin Fund (FBTC) also suffered a similar fate with an all-time high outflow of $208.5 million on December 19th, followed by another outflow of around $71.9 million the next day. These events have raised some concerns among crypto investors about the future of these ETFs.
Despite these outflows, some market observers argue that they shouldn’t come as a surprise since international asset management firms like BlackRock and Fidelity have largely driven the inflows into Bitcoin exposure. However, others believe that this could signal a shift in institutional investors’ appetites for Bitcoin investments.
It’s worth noting that Bitcoin’s market volume has dropped significantly to $59.50 billion, which is a 52% decline from its total volume during the crypto bull run last month. This decrease in volume contrasts with Bitcoin’s bullish run after Donald Trump won the US election in November, when it reached an all-time high of $108,000 per coin.
Overall, it seems like the cryptocurrency market remains volatile and unpredictable, even for some of the biggest players in the game. As always, investors should carefully consider their options before diving into any investment opportunities within this space.
Source
As per reported by www.bitcoininsider.org
