NEW YORK / LONDON (IT BOLTWISE) – Bitcoin ETFs in the US recently recorded $470 million in outflows, driven by a temporary Bitcoin price drop to $108,000. Despite the US Federal Reserve’s interest rate cut and US-China trade talks, volatility remains high. Experts still foresee positive long-term developments for Bitcoin.
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Bitcoin ETFs in the US have recently seen a significant drop in investments, with a total of $470 million being withdrawn. This development came alongside a short-term drop in Bitcoin’s price to $108,000 before recovering. Fidelity’s FBTC saw the largest outflows at $164 million, followed by ARK Invest’s ARKB at $143 million and BlackRock’s IBIT at $88 million.
The outflows occurred despite a 25 basis point interest rate cut by the Federal Reserve, which is usually seen as a positive signal for risky assets such as cryptocurrencies. Nevertheless, uncertainty in the markets, compounded by trade talks between the US and China, appears to be unsettling investors. These uncertainties led to a decline in cumulative net inflows to $61 billion and a decline in assets under management to $149 billion.
Interestingly, despite the recent outflows, ETFs still hold more than 1.5 million Bitcoin, worth $169 billion. This shows that confidence in Bitcoin as a long-term asset class remains. BlackRock’s IBIT tops the list of largest holdings with 805,239 Bitcoin, followed by Fidelity’s ETF with 206,258 and Grayscale’s GBTC with 172,122 Bitcoin.
Michael Saylor, co-founder of MicroStrategy, remains optimistic and predicts that Bitcoin could reach $150,000 by the end of 2025. This assessment is based on positive developments in the cryptocurrency sector and the increasing acceptance of Bitcoin as an investment instrument. Despite the current volatility, many experts see the long-term prospects for Bitcoin as positive.
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