Bitcoin ETFs lose $1.16B as Bitwise calls selling ‘short-term’

Bitcoin spot exchange-traded funds (ETFs) recently experienced substantial outflows, totaling approximately $1.16 billion. Despite this significant withdrawal of capital, André Dragosch, the head of research at Bitwise, characterized the selling activity as a 'short-term' trend. Dragosch attributed these outflows primarily to a weaker overarching market sentiment. He further indicated that, crucially, institutional investors have largely maintained their exposure to Bitcoin, suggesting that the underlying institutional interest and positions remain relatively stable despite the recent market-driven fluctuations.