The outflows from bitcoin ETFs in the last couple of months suggested strong bearish sentiment among institutional investors. However, there seemed to be a change in the tide last week when a remarkable inflow trend was recorded over a three-day period. These inflows into the BTC ETFs that provide long exposure showed that investors were expecting further upside for the digital asset, and the decline in short BTC exposure speaks truth to this. ProShares Outflows And Inflows The ProShares Bitcoin ETFs are the most popular in the market. The BITO ETF is one that offers long exposure, while the much newer BITI ETF allows investors to capitalize on short exposure. BITI, being launched in a bear market, grew quickly in terms of BTC exposure. However, the past week has shown a reluctance on the part of investors to bet against the price of bitcoin. Related Reading: Bitcoin Must Hold This Level Or Risk Falling To $10,000 BITI outflows for last Friday came out to a total of 1,060 BTC in a single-day period, the largest outflows the ETF has recorded since it launched. Furthermore, the outflows would continue into the new week, when BITI saw another 425 BTC leave. This brought the total exposure of BITI down to 3,580 BTC as of Monday. BITO ETF records inflows | Source: Arcane Research As for the BITO, it has been all shades of good news in the last week. A consecutive three days of inflows saw 1,650 BTC flow into the ETF. This foll...
Coinbase Delists MOVE Token Amid Controversy
