Bitcoin ETP Outflows Spell Bearish Sentiment Among Institutional Investors - BitcoinEthereumNews.com
BitcoinAng mga Outflow ng Bitcoin ETP ay Nagbabaybay ng Bearish na Sentiment sa Mga Institusyonal na Namumuhunan05 / 05 / 2022Balita ng Ethereum ng Bitcoin Bitcoin ETPs have become more popular than ever since the SEC approved multiple bitcoin ETPs in the fourth quarter of 2021. They had subsequently had a good run with hundreds of millions of dollars flowing into these ETPs. They provided a way for institutional investors and others who didnt want any direct exposure to the digital asset to trade on it. However, it seems the wind is starting to change as outflows become the order of the day. Outflows Rock Bitcoin ETPs The market is still reeling from entering a new month but the effects of the month of April continue to linger. Being a historically bearish month for the digital asset, bitcoin had taken a bit of a beating down in the market, which had unsurprisingly translated into the ETPs. The result of this was outflows that rocked the market. April sticking to form had recorded the highest monthly net outflows ever recorded in the history of Bitcoin ETPs. In total, there was a total of 14,327 BTC that flowed out of the market in this dreadful month.