The outflows from bitcoin ETFs in the last couple of months suggested strong bearish sentiment among institutional investors. However, there seemed to be a change in the tide last week when a remarkable inflow trend was recorded over a three-day period. These inflows into the BTC ETFs that provide long exposure showed that investors were expecting further upside for the digital asset, and the decline in short BTC exposure speaks truth to this.
ProShares Outflows And Inflows
The ProShares Bitcoin ETFs are the most popular in the market. The BITO ETF is one that offers long exposure, while the much newer BITI ETF allows investors to capitalize on short exposure. BITI, being launched in a bear market, grew quickly in terms of BTC exposure. However,