$171M Pulled From Bitcoin ETFs: Is Institutional Demand Cooling? | CoinDesk Daily

0:00Institutional demand for Bitcoin cools, and David Sacks joins the President's Council of Advisors on Science and Technology. This is Coindesque Daily, I'm Jen Senassi. Discover Nexo, the premier digital wealth platform, now in the U.S. Get started today at nexo.com slashcoindesk. Institutional demand for Bitcoin is showing signs of cooling as investors pulled $171 million from U.S. bought Bitcoin ETFs Thursday, the largest single day outflow in over three weeks. The move follows a strong run earlier this month, when these ones attracted more than $2 billion in inflows, major products, including black rocks, iBIT, and funds like FBTC and GBTC, all posted notable withdrawals. The shift is raising fresh questions about Bitcoin's ability to hold near $70,000 amid ongoing macropresure. White House AI and crypto czar David Sacks is leaving his role and joining the President's Council of Advisors on Science and Technology as co-chair. Sacks who help lead early

1:02crypto policy efforts, including stablecoin legislation and market structure work, set the move reflects the temporary nature of his previous position. His czar role was limited to 130 working days under federal rules, drawing scrutiny from lawmakers over the timeline. In his new role, Sacks will help guide policy and research on emerging technologies, including AI, quantum computing, and nuclear energy. And GameStop is turning its Bitcoin holdings into an income generating strategy, rather than selling them outright the company pledged nearly all of its roughly $4,700 Bitcoin to Coinbase as collateral for a covered call options trade. By writing short-term call options with strike prices between $105,000 and $110,000, GameStop collects premium income while capping potential upside. The move means the company no longer directly holds Bitcoin, instead recording it as a receivable while maintaining indirect exposure. That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. Introducing Nexo, the premier digital wealth platform, earn interest, borrow, and exchange crypto all in one platform.

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