Bitcoin ETFs shed $1.2B in red week, but Schwab remains bullish

US spot Bitcoin exchange-traded funds (ETFs) saw significant outflows totaling $1.22 billion over the past week, coinciding with Bitcoin's price falling by over $10,000 from Monday's high to a four-month low near $104,000 by Friday. BlackRock’s iShares Bitcoin Trust led the outflows with $268.6 million lost on Friday alone, contributing to the aggregate weekly loss across the eleven spot Bitcoin ETFs. Despite the market downturn, Charles Schwab reported strong client interest, with CEO Rick Wurster stating that Schwab clients now own 20% of all US crypto exchange-traded products, and site visits related to crypto have increased by 90% in the last year. Schwab, a major US brokerage, plans to offer spot crypto trading to its clients by 2026, indicating continued institutional optimism despite the recent red week for Bitcoin ETFs.

(Source：Cointelegraph)