According to CoinDesk, in June U.S. spot Bitcoin ETFs saw a net outflow of $4 billion. Bitcoin fell by about 14% in the second quarter and dropped below $60,000. Meanwhile, in the $2 trillion private credit market, second-quarter redemption requests reached $15.6 billion. Of 16 business development companies, 10 exceeded the 5% quarterly limit, and most investors received only partial payouts. Fitch expects redemptions to continue. Bitcoin ETFs are highly liquid, and outflows directly affect the BTC price, while private credit BDCs are illiquid, long-term instruments.

BTC1.61%
BDC2.08%
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Half-UnderstoodZk
· 2h ago
BTC fell 14% in Q2, which is considered mild. Next door, there are 10 BDC cases that have broken through the 5% cap. Traditional finance is also getting into DeFi, right?
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CandlewickKid
· 2h ago
When BTC broke 60k, I was adding to my position. Now I just want to ask the BDC brothers—are you doing okay?
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MetalReliefRoboticArm
· 2h ago
A 2 trillion market with 15.6 billion in redemptions, a proportion of less than 1%, but emotional contagion can exceed that number.
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SeeingTheChainThroughTheFog
· 2h ago
Liquidity Paradox: ETFs can be sold at any time, so sell first; BDCs cannot be sold, so pretend not to have lost money. Which is more honest?
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GateUser-3d750846
· 2h ago
Fitch's forecast essentially says "it will still drop," but doesn't say how much—same level as crypto analysts.
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