Institutions are “disappointed” by the SEC’s lack of decision-making regarding an ETF, according to the most recent report from CoinShares, prompting a widespread sell-off by large entities totalling an impressive $55 million worth of digital asset outflows in the past seven days. 

As James Butterfill, head of research for CoinShares wrote, “Disappointment from SEC ETF decisions has impacted sentiment,” with Bitcoin’s outflows reversing last week’s purchases worth $27 million. 

Butterfill explained to Decrypt that this sudden downturn appears to be caused by an “overhyped market” that realized a Bitcoin ETF isn’t as imminent as it once seemed. He added that “fears of a Chinese-based economic downturn” haven’t helped.

According to the analyst, the summer doldrums are in full effect, with low trading volume plaguing the market. With $2.3 billion in daily volume versus $11 billion at the beginning of the year, these numbers have left the

Go to Source to See Full Article
Author: Pedro Solimano

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details