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E328-NEWS Analysis-Schwab's High Crypto Engagement Despite ETF Outflows
Season 1 Episode 328
This is an AI generated Episode that will discuss a video, podcast or read an article. The source reports on a turbulent week for the crypto market, noting that Spot Bitcoin exchange-traded funds (ETFs) experienced over $1.2 billion in aggregate outflows as the underlying asset, Bitcoin, dropped significantly. Despite these outflows, firms like Charles Schwab are observing strong client interest and engagement in crypto-related products, with Schwab reporting its clients own twenty percent of all United States crypto exchange-traded products (ETPs). The article details that major funds, including BlackRock’s and Fidelity’s Bitcoin ETFs, saw the largest individual outflows during the week. However, the CEO of Charles Schwab remains optimistic, highlighting a ninety percent increase in client visits to the company’s crypto site over the past year. Analysts still anticipate a potential rally later in October, referencing historical trends and the prospect of future Federal Reserve rate cuts. .Want to read the article your self? Check the original source: https://cointelegraph.com/news/bitcoin-etfs-shed-1-2b-in-red-week-but-schwab-remains-bullish
Published on 2 weeks ago