Bitcoin ETFs Unload $1M+ Worth of BTC Amid Shift in Institutional Sentiment

Recent data indicates that Bitcoin ETFs have sold off nearly 1 million dollars' worth of BTC, totaling 917 units. This significant outflow from major U.S. spot Bitcoin ETFs such as BlackRock and Fidelity's offerings suggests a notable shift in institutional investor sentiment.

The value of the sold-off BTC amounts to approximately two days' worth of Bitcoin mining supply, according to recent estimates. In contrast, Chainlink ETFs have seen positive inflows, with 163,280 LINK tokens valued at $1.47 million entering the market. This movement could impact liquidity and prices in the near term.

These developments come amidst a broader context where Bitcoin's circulating supply has surpassed 20.07 million coins, nearing its 21 million maximum cap. Despite this milestone, demand for new coins remains negative, indicating that holders have yet to fully absorb them.