Bitcoin investors begin to ponder what’s next after ETF mania cools

As the second-quarter draws to a close, crypto investors are left wondering what’s next for Bitcoin after it retreated from the all-time highs registered during the height of the mania over exchange-traded funds.

“A lot of people in the market have questions that are mostly anchored on concerns from a macro perspective,” Austin Reid, global head of revenue and business at FalconX. “So I think there’s just some short-term uncertainty being reflected within the crypto market, as we’re seeing in some other asset classes too.”

Investors poured about $2.6 billion into Bitcoin funds in the second quarter, compared with around $13 billion in the first three months of the year, according to data compiled by CoinShares.

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