Investors Hold Bitcoin ETFs Even as Bitcoin Falls 7% in June
Even though Bitcoin fell 7% in June, investors held on to Bitcoin ETFs. data shows that Bitcoin ETFs attracted $154 million in inflows during June, breaking a trend of outflows that had been going on for several months. This suggests that investors remain confident in the long-term prospects of bitcoin ETFs despite the volatility in bitcoin prices. Analysts note that quarter-end inflows are usually stronger than usual, which could also be a reason for investors to hold the ETF. Meanwhile, high inflation and expectations of a Fed rate hike continued to weigh on market sentiment, causing bitcoin to record its biggest monthly decline since 2011 in June.
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