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

Key points

• Spot Bitcoin exchange-traded funds recorded outflows totaling $1.16 billion as broader market sentiment weakened.
• Addressing the recent decline, Bitwise executive André Dragosch characterized the selling pressure as short-term.
• He emphasized that institutional investors have largely preserved their cryptocurrency exposure despite the recent downturn, suggesting that major holders are not panicking during this period.

Summarized automatically by Kryptokite from reporting by Cointelegraph. Read the original sources for full detail.