$1.2B exits US Bitcoin ETFs just as London makes crypto comeback
US Bitcoin ETFs saw $1.2 billion in net outflows last week while London launched new Bitcoin ETNs, signaling a shift in crypto adoption.Summary
The 12 spot Bitcoin exchange-traded products (ETPs) in the United States experienced $1.2 billion in net outflows last week, marking their second-largest weekly setback since launching in January 2024, following a volatile period for Bitcoin prices linked to macroeconomic conditions. Concurrently, across the Atlantic, Bitcoin exchange-traded notes (ETNs) began trading on the London Stock Exchange, ending the UK's three-year retail ban on crypto investment products, with issuers like BlackRock debuting new offerings. Analysts suggest that while US flows retreated, the new European access, combined with the vast US advisory market, could attract up to $600 billion in new inflows if advisors allocate even a modest percentage to Bitcoin ETFs, potentially reshaping market dynamics toward advisor-led portfolio construction and greater price stability.
(Source：CryptoSlate)