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<p>BlackRock recently filed a Bitcoin ETF application with the SEC. According to several analysts, the process could be beneficial for the price of Bitcoin (BTC) by attracting more institutional investors. Recent trends point to an increase in institutional investors’ confidence in the crypto market.</p> 
<h2 id="h-blackrock-s-bitcoin-etf-application-has-reduced-fund-outflows">BlackRock’s Bitcoin ETF application has reduced fund outflows</h2> 
<p>Although <a href="http://cointribune.com/etf-bitcoin-le-pari-audacieux-de-blackrock/" target="_blank" rel="noreferrer noopener">BlackRock’s Bitcoin ETF application</a>, launched last week, has not yet been approved, its effects are already being felt in the financial markets. Recent trends show that the demand is having a positive impact on institutional investors.</p>
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<p>Indeed, <a href="http://decrypt.co/145268/blackrock-bitcoin-etf-prospects-boost-institutional-investor-sentiment" target="_blank" rel="noreferrer noopener">analyses highlight</a> the improvement in the latter’s perception of the circumstances of the crypto market. This dynamic has been reflected in a reduction in fund outflows linked to this sector.</p> 
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    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr">Trending <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> News <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f913.png" alt="🤓" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>BlackRock Bitcoin ETF Prospects Boost Institutional Investor Sentiment<a href="https://twitter.com/hashtag/cryptonews?src=hash&amp;ref_src=twsrc%5Etfw">#cryptonews</a> <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw">#crypto</a> <a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw">#cryptocurrency</a> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a><br><br>Follow for more <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/pjy5R2tMtp">pic.twitter.com/pjy5R2tMtp</a></p>— cryptowise.finance (@cryptowise_fin) <a href="https://twitter.com/cryptowise_fin/status/1670884292635815971?ref_src=twsrc%5Etfw">June 19, 2023</a>
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<p>Thus, over the past week, around $5.1 million in fund outflows have been recorded. While this figure may seem significant, it is insignificant compared to the total fund outflows recorded in recent weeks.</p> 
<p>Over the past nine weeks, for example, investors have withdrawn $423 million from investment funds. This figure stood at $88 million the week the SEC launched its proceedings against Binance and Coinbase.</p> 
<p>This wave of massive withdrawals reflects a certain loss of investor confidence. The latter were seeking to protect themselves against the ups and downs of a crypto market that had become risky. BlackRock seems to be reversing this perception of the market on the part of institutional investors.</p> 
<p>The Bitcoin ETF application filed by the company last week seems to have boosted the confidence of institutional investors. This dynamic has been manifested by substantial fund inflows of $5 million.</p> 
<p>“At the end of the week, slight inflows were recorded following the news that BlackRock, one of the world’s largest asset managers, applied for a <a href="http://cointribune.com/etf-crypto-les-riches-en-raffolent-mais/" target="_blank" rel="noreferrer noopener">Bitcoin ETF</a> in the United States, although these inflows were not sufficient to offset the outflows recorded earlier in the week,” reads a report published by CoinShares. It remains to be seen whether this development will continue.</p>

BlackRock reassures crypto market with Bitcoin ETF application

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