Bitcoin ETFs 'Turning a Corner' After Record Bleed Hits $8 Billion
DECRYPT ·
Bitcoin ETFs have generated $510 million in net inflows over the past three days. Sentiment could be turning a corner, according to 21Shares' James Butterfill. The products have bled roughly $8 billion over the course of eight weeks. Wall Street’s favorite crypto vehicles have notched net inflows for three consecutive days, reversing a record slump as investors cautiously wade back into Bitcoin . Exchange-traded funds tied to the digital asset have pulled in roughly $510 million since Friday, marking a shift in momentum from the “largest run of outflows we’ve ever seen,” James Butterfill, head of research at asset manager 21Shares, told Decrypt . “It looks like sentiment might be turning a corner,” he said. “They are the largest inflows we’ve seen since the outflows began in early May, suggesting we’re maybe through the worst of it.”
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