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Crypto

BlackRock Clients Flee Bitcoin ETF for Ethereum

Guavy AI Editorial Team
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BTC ETH
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BlackRock's Bitcoin ETF (IBIT) saw significant outflows as institutional investors reallocated capital into spot Ethereum ETFs. The $202 million exodus from IBIT contrasts with a gain of $11.39 million in BlackRock's Ethereum fund.

The price of Bitcoin remained stable above $65,400 despite the outflow, indicating resilience amid the tech sector sell-off in the U.S. market.

Analysts remain divided on Bitcoin's near-term direction, with some optimistic about a potential price rebound and others cautious about potential declines if outflows continue.

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