BTC ETF investors holding firm despite price drop, says analyst

Bitcoin ETF investors are holding onto their assets despite the cryptocurrency's recent price decline, according to Bloomberg ETF analyst Eric Balchunas. In an interview with CoinDesk, Balchunas noted that while BTC has fallen more than 40% from its recent high, BTC ETFs have only seen outflows of 6.6% during the same period. He attributed this to the distinct nature of ETF investors compared to typical crypto traders. Balchunas explained that BTC typically constitutes only 1-2% of their portfolios, lessening the psychological impact of any losses. Furthermore, he suggested that their experience with multiple cycles in traditional asset markets gives them a stronger inclination to hold their positions.