Bernstein: BTC's store-of-value status solid despite $2.6B in ETF outflows

Bernstein has stated in a report that Bitcoin's appeal as a long-term store-of-value asset remains intact, despite spot Bitcoin ETFs experiencing $2.6 billion in net outflows this year. According to The Block, Bernstein analyst Gautam Chhugani noted that the current market is focused on the AI investment craze. He argued that in such an environment, the fact that ETF net outflows have only reached $2.6 billion since the start of the year is actually a positive sign. Chhugani added that BTC receiving relatively little attention during this cycle does not undermine the investment thesis for it as a long-term store-of-value asset.