Uncle Sam's Bitcoin Blues: Strategic Reserve Plan Triggers $370M ETF Exodus
Key Points
- Wall Street is skeptical of the U.S. government's Bitcoin in...
'Make Bitcoin Great Again!' echoed through the halls of power this week, but Wall Street wasn't buying what Uncle Sam was selling.
From HODL to FODL
The U.S. government's latest attempt to jump on the crypto bandwagon hit a few speed bumps. President Trump's March 6 Strategic Bitcoin Reserve (SBR) announcement, designed to be a groundbreaking initiative, instead triggered a massive $370 million exodus from Bitcoin ETFs the very next day. Apparently, institutional investors found the government's crypto enthusiasm about as convincing as a cat's promise to stop knocking things off tables.
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