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Fidelity Bitcoin ETF Sells $257 Million Worth of BTC: What’s Happening?
In a surprising move, the Fidelity Bitcoin ETF has sold a staggering $257 million worth of Bitcoin (BTC). The sudden withdrawal of such a significant amount of assets from the market has left many wondering what’s behind this unprecedented development. To shed some light on this unexpected turn of events, we turned to Tom Lykken, a renowned expert in the field.
In an exclusive interview with U.Today, Tom emphasized that Bitcoin ETFs are unlikely to maintain their previous pace of expansion indefinitely. He highlighted that the recent withdrawals are not necessarily indicative of a reversal, but rather a normal pause in an otherwise forward-moving trajectory.
According to Balchunas, this sudden dip is akin to a “breather” in a long journey, reinforcing the resilience of the Bitcoin ETF market despite temporary setbacks.
The Fidelity Bitcoin ETF selling $257 million worth of BTC has sparked widespread curiosity among investors and analysts alike.
Source: u.today
