Bitcoin ETF Hype Far From Over: Top Expert Ends Speculations
Recent days have witnessed a shift in sentiment toward the Bitcoin ETF sector, with data revealing a temporary downturn in flows. According to recent data from a notable analytics firm, Bitcoin spot ETFs experienced a net outflow of $165 million yesterday. Notably, Grayscale ETF GBTC reported a net outflow of $133 million, while BlackRock (NYSE:BLK) ETF IBIT saw a net inflow of approximately $18.09 million.
Despite this apparent cooling off, Eric Balchunas, a senior ETF expert at Bloomberg, has offered insights that challenge any premature conclusions about the demise of the Bitcoin ETF fervor. Balchunas suggests that such fluctuations are part of a natural ebb and flow within the ETF market, particularly following a period of rapid growth.