BOJ ETF Sell-Off Weighs on Markets, Bitcoin Retreats
The Bank of Japan’s plan to unwind $250 billion in ETFs and JREITs pushed Bitcoin below $116,000 on Friday after briefly approaching $118,000.
The BOJ will sell ETFs worth ¥330 billion ($2.2 billion) per year at book value, or ¥620 billion ($4.2 billion) at market prices. Governor Kazuo Ueda said the process would take over a century.
The bank held its 0.5% benchmark rate in a 7-2 vote amid rising inflation. Japan’s Nikkei fell 1%, 10-year bond yields climbed, and crypto markets mirrored the broader risk-off sentiment.
