ETF outflows lead to Bitcoin weakness, but analysts say demand will resume shortly

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage of important industry events and analyses of market-affecting developments.) exchange-traded funds in the U.S.

He noted that there has been a significant amount of interest from the crypto community for a broader range of crypto products from BlackRock, but for now, the firm remains focused on Bitcoin due to its fundamentals and growing prominence in global finance. With such heavy demand for access to the iShares Bitcoin Trust , it’s easy to understand why BlackRock remains focused on Bitcoin.to Balchunas, “$IBIT now accounts for over half of BlackRock's net flows YTD and has taken in double any of their other 420 ETFs.”

According to Ki Young Ju, founder and CEO of on-chain analytics firm CryptoQuant, while the overall net flow has been slowing in recent days, it could soon pick up again as Bitcoin’s price approaches lower support levels.

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