ETFs Hit Pause on BTC Buying Spree After Recent Rally

Bitcoin institutional investors have hit pause on their recent buying spree as BTC price action settles into a consolidation phase. Inflows into U.S. spot Bitcoin exchange-traded funds (ETFs) turned net negative for the first time in two weeks, according to data from various sources, including UK-based investment firm Farside Investors. The cooling interest in Bitcoin ETFs comes as BTC/USD hovers within 10% of its all-time high. On Oct. 22, U.S. ETF inflows flipped net negative, with a total outflow of $79.1 million for the day. This downturn was driven by one product, the ARK 21Shares Bitcoin ETF, which saw outflows

Source: CryptoIntelligence