Crypto skeptic Peter Schiff noted that recent trading patterns and ETF inflows suggest that experienced investors are selling BTC on the spot market, while less experienced investors are purchasing it through ETFs. He implied that whales have strategically positioned ETF investors to bear the brunt of potential losses.
Despite this, Schiff still pointed out that many people who profited from Bitcoin did so more by luck than by skill.
Bitwise’s BITB received over $30 million, with almost $2.1 billion in assets. VanEck’s HODL took in $12.8 million and holds nearly $600 million in assets.
Other Bitcoin ETFs, including those from BlackRock (NYSE:BLK), Franklin Templeton and Valkyrie Digital Assets, reported no significant changes in inflows or outflows.
As things stand, fear, uncertainty, doubt and greed continue to influence market sentiment around Bitcoin ETFs and other crypto investment products.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
