Fidelity Feels the Pain with $49M Outflow—But Blackrock Bags the Gold!

Spot Bitcoin ETFs took a hit on October 8, and FBTC felt the most of it! Fidelity spot Bitcoin product, FBTC, saw $49 million left their land and seems that people are moving funds from other investments as the Bitcoin market is stagnant and rumours are putting money into Chinese stocks after the latest PBoc cut in rates on their loans, cheap rates in cash equal to more profit in market for professional investors.

While FBTC saw outflows, the "King" Blackrock saw an inflow of $40 million and, is the unique one seeing gains on the ETF market. Despite all the outflows, ETFs still a product on demand and those outflows are necessary to make the Funds earn some money in fees and also to rotate the Bitcoin on them.

ETFs products still a market in which people are interested the most in the latest days as for them is secure and not stressful. Other factor, is that the products on ETF are regulated and anything happening on them can be accountable, proving that people still depending a lot on the government, and ishares can be purchased using conventional methods such credit cards and bank transfers.

I, in my part, still prefere the old and decentralized manner to store my crypto in my wallet and have them when I want! There's nothing more secure that keep my Bitcoin in my non custodial wallet. Remember:

CONTENT IS KING!