Bitcoin ETF Inflow Streak Breaks With Nearly $80 Million Outflows
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Este artículo también está disponible en español. The recent increase in the appeal of spot Bitcoin exchange-traded funds (ETFs) in the United States has temporarily ceased. Related Reading On Tuesday, these funds underwent a reversal, resulting in net outflows of $79.01 million, following an extraordinary seven-day streak of positive inflows. Farside Investors are the source of this data, a company that specializes in the analysis of ETF flows. A Brief Obstacle The $79 million outflow represents a significant shift in sentiment among investors who had previously demonstrated a strong interest in Bitcoin ETFs. Over the span of two days last week, the market attracted around $1 billion in inflows, implying a robust demand for these financial products. The main cause of this negative change was Ark and 21Shared’s ARKB, which resulted in a substantial $134.7 million outflow. Source: Farside Investors BlackRock’s IBIT, the best-performing bitcoin ETF by net assets, drew $43 million. Fidelity’s FBTC and VanEck’s HODL, which received $8.8 million and $3.8 million, respectively, also helped. There were no new flows on the remaining eight funds, including Grayscаle’s GBTC, during the day. Nevertheless, Bitcoin ETFs could bring in more than $21 billion to date. This number clearly signifies the rising use of Bitcoin as a new asset class and it is only going to see more hedge funds take larger positions. US-traded spot Bitcoin ETFs have also seen significant interest from institutional investors, with 20% of the market owned by them as of October 22. Institutional ownership of U.S. #Bitcoin Spot ETFs is around 20%, with asset managers holding 193K BTC (per Form 13F filings). pic.twitter.com/9YTOEH3G5w — Ki Young Ju (@ki_young_ju) October 22, 2024 Institutional Demand Is Still Strong Regardless, while the latest ETF flow swings have been significant in themselves, they can not distract from what is an…
Filed under: News - @ October 24, 2024 10:25 am