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Defying the Downturn: Bitcoin ETFs Rake in $390M as Smart Money Buys the Dip
Defying the Downturn: Bitcoin ETFs Rake in $390M as Smart Money Buys the Dip
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Wall Street's crypto love affair isn't over yet. While retail investors panic-sell, institutional players are quietly loading up on Bitcoin exposure through ETFs—proving once again that the 'dumb money' follows while the smart money leads.
Blood in the streets? More like dollar signs.
Despite Bitcoin's recent 20% plunge, ETF inflows hit $390 million this week—the highest since March. Traders are betting big on the long game, with Grayscale's GBTC seeing its first inflows in months. Even gold bugs are starting to sweat.
The cynical take: Nothing brings Wall Street to the table like a good old-fashioned fire sale. Just don't expect them to tell you when they're taking profits.
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